Analysts at Societe Generale Say Bullish Bets on the Dollar Are Decreasing

Analyst Kit Jukes from Societe Generale pointed out in a report that as the reasons for holding long positions in the dollar weaken, speculators are reducing their bets on a stronger dollar, leading to thin market trading. He mentioned that recent U.S. data may have sent false signals, with consumption, inflation, and employment all coming in weaker than expected. This data has led the market to lower its expectations for U.S. interest rate hikes. Jukes stated that the key now is to wait for the September data or to accept the expectation that the dollar index may hover in the 95-100 range for the remainder of the year.

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