Daily Report : Dollar falls into correction for the first time in years; Short bets fall to 6-year low


  • Jason Goepfert

    Jason Goepfert

    Published: 2020-09-01 at 17:32:02 CDT

The U.S. dollar has fallen into a correction, down more than 10% from its prior 52-week high. That ends more than a 2-year streak without this kind of a drawdown. Sentiment is sour, as falling real rates have pushed pessimism to an extreme. But that hasn't been a good reason to expect a lasting turn.; Shares sold short against NYSE securities fell to a 6-year low during mid-August. That's more than 10% below the long-term trend in short interest. Stocks have shown below-average returns when short interest was low, especially this low.


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