What are hedge funds doing with the US dollar right now?

[ed]

Hedge funds are aggressively shorting the US dollar (USD), pushing positioning to extreme levels not seen in roughly two decades. These positions are concentrated in the US Dollar Index (DXY), reflecting bets that the dollar will continue to weaken.

[Abdul Khan]

Hedge funds are rotating positions based on rate expectations.

[Nahid Hossen]

Many are staying cautious due to uncertainty in global markets.