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Morgan Stanley: The market is too bearish towards the euro

Morgan Stanley

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The bank is looking for a weaker dollar in the coming weeks.
Factors for attention:

Surprising economic data, US vs. G10.
Policy position of PBOC

About the euro
The market is too bearish from the euro, too affected by European political risks and the prospect of growth.
Restricted scope of the ECB for relief.
The dollar may lead to the start of the euro rally.
The EUR / USD was swallowed by bearish news without falling below 1.1510, which is constructive.
About USD / JPY

Morgan Stanley is looking for one more move to 115.
Japan's low incomes can support the currency pair until the risky assets return, as we expect in the coming weeks.

About Yuan
The USD rally may be blunted if there is a stabilization of Chinese stocks that may indicate that the USD / CNH may reach a new peak.

Source: Forexlive

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