The dollar rally is starting to look unstoppable
Dollar bears have been beaten into submission, as the dollar index rose to its highest level in nearly 2 years in late April. Speculators had raised long dollar positions to $37.2 billion, the highest level since December 2015, according to Commodity Futures Trading Commission data released on Friday.
By the numbers: Having risen by 4% in 2018, the dollar is up about 2% so far this year and a Reuters poll of economists expects that strength to continue for the next 3 to 6 months. Though, they expect it will fall within a year.
- Analysts have been predicting the dollar would weaken for the past 2 years, but have consistently been proven wrong, as central banks outside the U.S. have mimicked the Fed's dovish tone.
Go deeper: King dollar keeps rising