Morgan Stanley turns bullish on dollar


Morgan Stanley returns to the bullish dollar camp only a few months after turning bearish on the greenback ahead of its early-summer tumble.

"The trend in the dollar is clearly to the upside," says the bank's head of FX strategy, Hans Redeker, who sees the dollar strengthening to $1.26 per euro (FXE) and 107 yen (FXY) by year's end.

Redeker says the reasoning for his previous bearish stance was the need for a "pause" in the rampant dollar bullishness of late spring.

Dollar ETFs: UUP, UDN. Leveraged dollar ETFs: UUPT, UDNT.

Other euro ETFs: ULE, ERO, URR, DRR, EUO.

Other yen ETFs: YCL, YCS, JYN.

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  • Trader's Profit Compass
    , contributor
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    107 yen works for me.
    7 Aug 2013, 10:05 PM Reply Like
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