Morgan Stanley Says Markets Are Bottoming So Sell U.S. Dollar
- Short greenback versus euro, Aussie and loonie: strategists
- We are in now final part of ‘severe’ bear market, report says
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Global financial markets are now in a bottoming phase, and investors should start to add risk and sell the U.S. dollar, according to Morgan Stanley.
The tightening of financial conditions has been fast and furious, caused by a slump in stock markets and a widening of credit spreads, strategists including Matthew Hornbach in New York wrote in a report published Friday. However, support measures, mainly by central banks so far, are helping to deliver easing and stabilize the situation, they said.