Fund Titans Are Betting on Everything Gaining Against the Dollar

July 13, 2023

The Bloomberg Dollar Spot Index slumped to a 15-month low, with the gauge now down over 11% from a September peak. Jim Leaviss, chief investment officer of public fixed income at M&G Investments which oversees $366 billion, is shorting the dollar against the yen. Every one of them has strengthened against the dollar this year, with the Colombian peso advancing 18% against the greenback. “We expect a weaker dollar in the second half.”Lombard Odier’s Christian Abuide also sees the real gaining, along with the Swiss franc, euro and yen. “That first phase of buying other currencies outside the dollar is already in motion.”(Updates today’s dollar level.)