US Dollar, Pound Sterling Seen Overvalued at 34% and 12% in July BofA Fund Manager Survey; Euro Now Undervalued

According to American Bank's July survey of global fund managers, 34% of investors on a net basis continue to believe the US dollar is overvalued, unchanged from June. For sterling, 12% now view it as overvalued, down from 15% previously. Meanwhile, 10% see the euro as undervalued, a shift from neutral sentiment in the prior month.
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