Bank of America survey: The dollar is facing the biggest bearish trend in 19 years

the global fund manager survey released by Bank of America on Tuesday showed that in May, global fund managers' bearishness on the US dollar reached its highest level since 2006. This reflects that the chaotic trade policy of US President Trump has weakened investors' interest in US assets. Bank of America stated: "Before the Geneva meeting, investor sentiment was low, especially pessimistic towards US assets. Although the May survey showed a slight improvement in market sentiment compared to April, it is still very negative, indicating that 'painful trading' may increase slightly." The report shows that fund managers have reduced their cash holdings from 4.8% to 4.5%, which is usually seen as a signal of increased confidence. However, their reduction in the US dollar holdings has reached its highest level since May 2006. Bank of America pointed out that 75% of the data in this survey was collected before the Geneva talks.