Bloomberg

Sell dollar for everything else is echoing across trading rooms

Sell the dollar and put money into assets such as emerging-market stocks and gold as the world's economic recovery gathers steam, money managers say.

An employee holds one-hundred gram gold bars at Gold Investments bullion dealers in London on July 29, 2020. Foto: Bloomberg photo by Chris Ratcliffe.

A growing chorus of investors is betting the world's reserve currency has reached a peak in a dramatic turnaround from a month ago when positioning in the greenback was the most bullish since 2015. K2 Asset Management recommends selling the dollar for Asian emerging bonds and European stocks, while Brandywine Global Investment Management is buying commodity-linked currencies. Bleakley Advisory Group favors gold and silver.

"The dollar has reached its peak," said Jack McIntyre, a money manager at Brandywine who turned short on the dollar last month against the Aussie and Chilean peso. "It's overvalued, people have been too long on it. To me the biggest factor that's going to weaken the dollar is just the improvement of global growth."..

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