Option traders see the bearish US dollar view rise to a historic high.

According to a common investor sentiment indicator, currency options traders are currently more pessimistic about the future trend of the US dollar than at any other time. The one-year risk reversal rate has dropped to -27 basis points, favoring put options over call options, becoming an overall alternative indicator for the Bloomberg Dollar Index. According to Bloomberg's data since 2011, this level is the most negative level on record, even exceeding the brief levels seen at the beginning of market volatility sparked by the pandemic five years ago.