Long US Dollar positioning reaches $48B, the highest since 2015, with bullish bets up 4x in three months and now 2 standard deviations above the 12-year average.
Macro & Markets ·
Speculative long positioning in the US Dollar has reached $48 billion, marking the highest level since 2015, according to positioning data tracked by professional investors and hedge funds. Bullish bets have surged more than fourfold over the preceding three months, lifting long exposure to a level more than two standard deviations above the twelve-year average. This sustained appetite reflects directional market views rather than hedging-driven flows, with professional investors maintaining long US Dollar exposure for six consecutive months—the longest such streak since 2022. The concentration of bullish positioning underscores how crowded the trade has become among market participants betting on continued dollar strength.