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Global investors have pared negative sentiment on the dollar, while remaining bullish on the euro and yen.

This is according to Bank of America's much-watched Fund Managers survey, which offers a sentiment gauge of the world's most important investors.

"Bearish USD sentiment has diminished, with a net 29% of global investors expecting the USD to weaken over the coming twelve months, down from 47% last month," finds Bank of America's latest survey.

Nevertheless, when asked which currency they expect to appreciate or depreciate the most in the next 12 months, investors still show a preference for dollar depreciation.

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