Online reports that Bank of America's latest survey of global fund managers showed that investors 'exposure to the U.S. dollar fell to a 19-year low in May. About 17% of investors are currently reducing their holdings of dollars, the highest level since May 2006. The May survey also showed that 40% of investors wanted to increase protection against dollar depreciation. The proportion of investors who believe the dollar is overvalued is 57%, a drop of 12 percentage points from the April survey and the largest monthly decline since September 2023.