USD has rallied and now, naturally after a prolonged move, investors may look for diversification into other currencies and while the idea of a higher USD stayed deeply anchored in investors’ minds, there is a search for the ‘mini-dollar’, says Morgan Stanley. Where is the mini-dollar? "Initially, GBP and CAD come to mind – GBP because the British economy has many similarities to the US economy, and CAD because Canada’s export industry sells 78% of its products into the US. It makes sense to study FX in this way since the USD rally comes from stronger US economic data. However, when the USD rally is driven by a ... (full story)