Wall Street institutions turn bullish on the US dollar, with dollar long positions surging to 29.4 billion dollars

Driven by the hawkish stance of Federal Reserve Chairman Kevin Walsh and AI capital inflows, net long USD positions have risen to $29.4 billion. Bank of America has lowered its year-end target for EUR/USD from 1.20 to 1.15 and expects the Federal Reserve to raise interest rates three times this year. Man Group anticipates the US dollar will still have about 5% upside by year-end. Goldman Sachs expects currencies of Asian oil-importing countries such as the Thai Baht and the Philippine Peso to come under pressure.