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USD, EUR, JPY, GBP, CAD, AUD, NZD: Weekly Outlook - Morgan Stanley
USD: Staying Offered. Bearish. Our bearish USD framework remains in place. The Fed’s statement had few surprises, did not push back on current pricing for June and did not reintroduce the balance of risks language, all pointing to a Fed in no rush to hike. Furthermore, weak US data (reinforced by durable goods and GDP this week), China’s mini recovery and oil breaking out to new highs should continue to keep the USD offered. EUR: Range Bound For Now. Neutral. Very little has changed following last week’s ECB meeting and we retain our view that EURUSD will be range bound in the near term. The ECB’s language on ... (full story)