BofA-ML: market positioning of dollar suggests neither growth nor decline in prices

The current market positioning of the dollar seems neutral. In addition, positions opened before and after the presidential elections in the US, were closed.
A new impetus for the growth of the US currency may give the fiscal policy of the United States (survey results show high expectations that the tax reform will be carried out this year). Market positioning suggests neither an increase nor a decrease in the dollar.
A strengthening of the volatility of the euro is quite possible. According to participants in the trade, some investors are betting on growth in the single currency and the current positioning of it is more bullish than a year ago.
Analysts believe that the weakness of the euro in the first half of the year will change because of its strengthening against the possible desire of the ECB to begin to alleviate its program for quantitative easing. Generally they say that investor sentiment for the single currency is more bullish than positions on the market.