Bullish US dollar bets hit $40 billion, highest in over a decade

Traders turned the most bullish on the US dollar since 2015, with net wagers on a stronger greenback rising to nearly $40 billion as of June 30, based on Commodity Futures Trading Commission data released Monday. The buildup followed a 2% gain in June, one of the currency’s strongest monthly performances this year. Markets have shifted toward expecting US interest rates to stay higher for longer, and traders now see at least one Federal Reserve rate increase in 2026. The move gathered force after the Iran war and disruption to tanker traffic through the Strait of Hormuz drove oil prices higher, feeding inflation concerns and boosting demand for the dollar as a haven asset.