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#1 05-06-2017 10:40:18

johnedward
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EUR/USD: Morgan Stanley reverses its outlook, expects strong rise

EUR/USD: Morgan Stanley reverses its outlook, expects strong rise of the pair, targets 1.18


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While the bank posted a very sharp bearish forecast for the EUR/USD a few days ago, expecting a drop to 0.97 by the end of the year, Morgan Stanley has totally reversed its position, and now has high expectations for the euro-dollar.

Morgan Stanley is now anticipating a rise to 1.18. This is Morgan Stanley's first positive opinion of the euro since the beginning of the crisis.

The bank explains that its now "strategically bullish" position on the EUR/USD is based on strong data in the euro area, as well as on the positive outcome of several key political events (including renewed inflows towards equities).

The bank also states that the low point marked in January will not be repeated, and it therefore expects the EUR/USD to hit 1.18 at the end of the year (compared with 0.97 previously), and 1.19 in Q1 2018 (vs. 1.00 previously).


"Anything worth having is worth going for - all the way." - J.R. Ewing

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