Bank of America's latest survey re sentiment on FX and rate markets:
- USD expected to hit its 2025 peak this quarter
Reflecting increased concerns around
- US economic growth slowdown
- Doubts over US "exceptionalism" persisting
- “More investors now simply lack conviction for the rest of the year”
- High USD dollar valuation
- Rate differentials moving narrower in favour of other FX
- Long USD positions the most crowded trade
