While Morgan Stanley sees EUR/USD remaining under pressure and forecasts a move to parity next year, MS thinks that the risks of a pause in the near-term have increased. "Expectations for ECBs easing in December are high, suggesting delivery risks. But we see any EURUSD recovery in the near-term as providing renewed selling opportunities although the anticipated move lower next year is likely to be at a slower pace than seen this year. EURUSD declined 25% from the mid-2014 high to the March low of this year. Downside progress since then has been altogether slower, even with the heightened expectation of greater ... (full story)