Wall Street’s Biggest Dollar Boosters Are Throwing In the Towel
- Strategists cut forecasts as Fed sticks with zero-rate policy
- `We’re in a very different world now,' Morgan Stanley says
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Six months after the dollar’s ascent faded, Wall Street is giving in.
For a second straight quarter, the greenback is set to trail strategists’ projections. Morgan Stanley, Bank of America Corp. and Citigroup Inc. are among banks that have lowered their dollar forecasts against the euro during the past two weeks. The median year-end estimate for Intercontinental Exchange Inc.’s U.S. Dollar Index, which tracks the currency against six major peers, has been cut to the lowest since March.