In May, global asset managers significantly increased their exposure to the U.S. dollar, marking the largest bullish dollar positioning in 19 years, according to the latest Fund Manager Survey (FMS) by Bank of America $BAC. The sudden shift in sentiment comes in the wake of a fragile but impactful 90-day trade ceasefire between the United States and China, aimed at de-escalating mounting tensions that have cast long shadows over global financial markets.