NEW YORK: It’s a tough time to be holding onto a short position, and not just for equity investors caught out by Reddit-fuelled price surges.
In the currency market, one of the big consensus calls for 2021 has had a rough January, with the US dollar defying expectations for it to extend its decline – at least for now. The Bloomberg dollar index, which measures the greenback against a basket of major peers, is up 0.9% since the end of 2020 and on course for only its second monthly gain since the coronavirus pandemic rocked markets back in March.
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