The current strength of the euro is clearly an act of 'exaggeration' that will likely get faded over time, said Hans Redeker, chief currency strategist at Morgan Stanley in an interview with Handelsblatt. "After the famous promise of ECB President Mario Draghi, to do everything to preserve the euro, much capital has returned to the eurozone. This has added value to the euro. However in the long term, this will change again as the eurozone addresses its major structural problem," he added. "Europe needs a weak currency to solve it own problems; the periphery countries need a cheap currency to be fairly competitive," ... (full story)