Amid the persistent dollar weakness that has emerged since Liberation Day, where stocks are almost back at all time highs while the dollar is at multi-year lows and can't catch a bid...
... there is one question that DB's head of FX strategy, George Saravelos, keeps getting asked from clients: what are foreign investors doing with their dollar hedge ratios? Yesterday, the strategist provided an answer for Danish pension funds, showing that as of April, they had started to materially reduce their dollar exposure.
