UDN

Invesco DB US Dollar Index Bearish Fund

Hanke cited the findings of Bank of America’s Global Fund Manager survey, which showed that fund managers are the most bearish on the U.S. dollar in 20 years.

The dollar faces its worst first-half since the 1970s as looming Fed cuts and political uncertainty weigh heavily.

Trump eyes early Powell replacement, boosting rate cut odds. If this happens, the U.S. dollar may slide, making ETFs like QQQ and SPTM potential key plays.

The dollar index, which measures the U.S. currency against the other world reserve currencies, broke out to the upside after the early November U.S. election. However, it ran out of upside steam at the 110 level. While the U.S. dollar index remains in a medium-term bullish trend, the long-term path of least resistance is bearish.