USD, EUR, JPY, GBP, AUD: Outlooks For The Coming Week – Morgan Stanley

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USD: Dollar Data Dependence. Bullish. We stick to our medium-term bullish USD view, but see scope for a pause in the near term, given the more dovish shift in the Fed. In line with our economists’ view, the central bank suggested it is still data dependent and sees risks as skewed toward moving too early, rather than too late. With data coming in soft, markets may push back their timing of the first hike. We prefer relative value trades in this environment. EUR: Remain Bearish. Neutral. We believe EUR could see some relief in the near term as USD broadly takes a pause. Signs of reflation in Europe and a positioning clear-out …(full story)

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