If you want to see some real short-squeeze fireworks, look no further than the rebound in the world’s most important price: the US dollar.
Short positions in the greenback were identified as the third most crowded trade in Bank of America’s last global fund manager survey, offering the prospect of egg on faces if the rebound in the world’s reserve currency can add to the rally that’s pushed it to a five-week high.
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Robert writes on companies and markets. He is a former New York and Shanghai correspondent, and has worked in Hong Kong. Email Robert at robertguy@afr.com.au
