1240 GMT - International investors are reducing their dollar exposure due to a variety of concerns, which include fears about the U.S. fiscal outlook, Bank of America's forex and rates sentiment survey for May shows. Sell the dollar has emerged as "the highest conviction trade for the first time in 2025," exceeding the conviction to buy government bonds, BofA says. The euro is likely to be the greatest beneficiary from the reduced demand for the dollar, BofA strategists say in a note. The euro strengthens 0.2% versus the dollar to last trade at $1.1254, although it trades well below the April 21 peak of $1.1574. (miriam.mukuru@wsj.com)
(END) Dow Jones Newswires
May 09, 2025 08:40 ET (12:40 GMT)
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