Institution: US dollar concerns intensify, demand for hedging against US dollar depreciation has surged to a 5-year high

According to BlockBeats, on April 14th, the demand to hedge against the potential depreciation of the US dollar has surged to a five-year high due to the Trump administration's tariff policies potentially weakening the country's economic exceptionalism and weakening the dollar. According to institutional data, the three-month risk reversal index (i.e. the spread between call and put options) measuring the US dollar against 12 major currencies has fallen to its lowest level since March 2020, when the global pandemic was at its worst. This indicator fell below zero for the first time in five years last Friday, indicating that there is greater demand for put options that benefit from a weaker US dollar than for call options that benefit from a stronger US dollar. The market's aversion to holding US dollars still dominates, "said Chris Weston, research director at Pepperstone Group Ltd. in Melbourne. The question people are asking about the US dollar is not a one-day event, but a potential major structural change. "(Jin Shi)