US dollar falls to new session lows late<p>Bank of America's fund manager survey released this month said US dollar longs were the most-crowded trade on the planet.</p><p>When that kind of thing unwinds, this is what it looks like. </p><p>US dollar longs are scrambling to the sidelines at the moment after Daly indicated no plan to hike more aggressively. The S&P 500 is now up 2.5% on the day.</p><p>In terms of FX, cable is up 62 pips to 1.1296 from a low of 1.1061 in a powerful turn.</p>
This article was written by Adam Button at forexlive.com.
Source: US dollar falls to new session lows late (https://forexlive.com/news/us-dollar-falls-to-new-session-lows-late-20221021/https://forexlive.com/news/us-dollar-falls-to-new-session-lows-late-20221021/)
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