Morgan Stanley analysts show EUR/USD bearish, projecting a move towards 0.9700.
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“The regional challenges they keep increasing. The risks of gas shutdown in the eurozone continue to rise, which should weigh on local growth, while Covid-19 policies in Asia they could continue to restrict the recovery…. This should be positive for the dollar. In fact, for investors looking for more and more security, the “Dollar King” may remain king. This could even be true across asset classes.”
“Suppose an investor seeks a safe haven and has to choose between the dollar in foreign currency or a Treasury bond. Both are often thought of as safe havens, but it is worth remembering that the USD has positive yields relative to Treasuries in a world where yields continue to rise.”
Source: Fx Street
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