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Is It Time For Tactical USD Shorts? - Morgan Stanley
In its weekly FX note to clients, Morgan Stanley updates its thoughts on the current USD correction, and how should investors position in case there is some further room for tactical USD downside. The following are some of the key points in MS' note along with MS' technical set-up for trading EUR/USD. Cautious on USD: "The 25% USD move from the middle of last year to March had less to do with the US than it did with the rest of the world, in our view. Deflationary pressures, falling commodity prices and aggressive monetary easing outside of the US meant that USD could appreciate even with US bond yields staying low," ... (full story)