Dollar bears seize on notion of crumbling US exceptionalism

March 3, 2025

The expanding chorus of greenback bears includes asset managers Invesco and Columbia Threadneedle and hedge fund Mount Lucas Management. On Wall Street, Morgan Stanley and Societe Generale are warning clients that going long the dollar is an overcrowded trade that may not hold up.

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Despite volatile markets, several stocks delivered exceptional returns, with 13 companies gaining 70–200% in three months. HFCL led the rally, while broader market strength created

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