Morgan Stanley exits it short EUR/USD position from 1.3290 after moving its stop to 1.3130 on Monday. This comes in line with the bank trading strategy for the last 6 months which made it known as a permanent euro bear. It becomes a recurring play for Morgan Stanley to sell the EUR/USD, exit after modifying its stop, and then re-short at a slight rebound. For example back in late February, MS established a short EUR/USD position at 1.3300 with 1.2390 target and 1.3460 stop. In less than 24 hours, the trade hit its stop and MS was looking to re-sell at 1.3580 for 1.3110 target. Now, MS is looking to repeat this short ... (full story)