Global fund managers have reduced their exposure to the US dollar to the lowest level since 2006, according to the latest Bank of America Fund Manager Survey conducted in May. This significant shift in investment strategy comes amidst growing optimism about the global economy, with 61% of fund managers now anticipating a soft landing, up from 37% in April, while expectations for a hard landing have decreased to 26% from 49%. The survey also highlights the sentiment ahead of the US-China Geneva talks, where fund managers expected US tariffs on Chinese goods to be set at 37%. This reflects a cautious approach to trade relations and economic policy between the two nations.