Morgan Stanley turns neutral on dollar with bullish skew, stays bearish on yen - investingLive
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Morgan Stanley turns neutral on dollar with bullish skew, stays bearish on yen investingLive
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4 itemsMorgan Stanley turns neutral on dollar with bullish skew, stays bearish on yen
Morgan Stanley's recent shift to a neutral view on the US dollar with a bullish skew indicates a preference for buy-the-dips strategies, especially in light of potential energy shocks and risk aversion. This transition follows their previous underestimation of dollar strength, as outlined in a recent commentary, where they highlight that any dollar weakness could be fleeting ('Per the full note [source]...'). Furthermore, their bearish outlook on the Japanese yen suggests continued support for USD/JPY, which could press against intervention thresholds by the Bank of Japan (BoJ). Currently, USD/JPY hovers around 155.81, close to the upper range of current market expectations, where intervention risks are heightened.
Morgan Stanley: We Remain Neutral on JPY; We Expect USD/JPY to Remain Confined to a Relatively Narrow Range - eFXdata
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