GBPUSD: Morgan Stanley changes US dollar forecast to neutral ami
Updated
Morgan Stanley updated its outlook for the U.S. dollar, switching to a neutral stance, sharply departing from its previous forecast for an 8% rise in the dollar spot index in the fourth quarter. Two this year. This adjustment was made in response to the Fed's recent dovish stance and the resulting decline in US Treasury yields.
The bank's dollar spot index fell just 0.2%, prompting a reassessment of its currency strategy. Given the changing economic situation, Morgan Stanley strategists are now advising clients to avoid short positions in the Eurodollar. Instead, it recommends shorting the euro against the yen to protect against currency fluctuations that may occur in the current market environment. This guide highlights strategic turning points in foreign exchange trading, in line with the latest economic indicators and central bank policy directions.
The bank's dollar spot index fell just 0.2%, prompting a reassessment of its currency strategy. Given the changing economic situation, Morgan Stanley strategists are now advising clients to avoid short positions in the Eurodollar. Instead, it recommends shorting the euro against the yen to protect against currency fluctuations that may occur in the current market environment. This guide highlights strategic turning points in foreign exchange trading, in line with the latest economic indicators and central bank policy directions.
Note
GBPUSD BUY 1.2670-1.2680TP1: 1.2700
TP2: 1.2730
SL: 1.2630
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