Bearish US dollar index (DXY) bets near decade high as 2020 draws to an end – Bloomberg
|Early Tuesday, Bloomberg came out with any analysis, based on non-commercial positions in futures linked to the Intercontinental Exchange (ICE), portraying the US dollar’s broad weakness.
The analytical piece initially cites data from the Commodity Futures Trading Commission (CFTC) to confirm that the net short non-commercial positions in futures linked to the ICE US Dollar Index (DXY) have surged to the most since March 2011.
While emphasizing the 6% drop of the greenback’s gauge, the piece quotes analysts from Goldman Sachs as saying, “We see depreciation in the dollar continuing into 2021. Liquidity dynamics and virus news flow may influence the timing of dollar weakness, but not necessarily the medium-term downtrend.”
DXY remains pressured…
DXY bears the burden of risk-on sentiment while flashing 0.20% intraday losses to 90.11 by press time. In doing so, the US dollar barometer drops the most after the last Wednesday.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.