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EUR, JPY, GBP, CHF, CAD, AUD, NZD: Weekly Outlook - Morgan Stanley
EUR: EUR to Range Trade. Neutral. Yellen’s dovish speech has given support to EUR, pushing EURUSD through 1.14. We expect EURUSD could trade as high as 1.16/1.17 in a weak USD environment but expect the ECB will be uncomfortable with sustained strength near these levels. Core CPI was a positive surprise this week, though this may have been driven by the timing of Easter. In general, we don’t see a catalyst for EUR weakness in the short term and expect it to range trade near these levels. JPY: Staying Bearish Tactically. Bearish. We remain tactically bearish on JPY for two reasons. First, the new fiscal year ... (full story)