Currencies
Morgan Stanley Finds ‘Silent Plurality’ Ready to Sell Dollar
- ‘Many have dry powder’ to sell the greenback, strategists say
- Firm favors shorting dollar against euro, yen and the pound
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Traders looking to sell the world’s reserve currency are far more common than thought even as the dollar’s dominance rips across markets, according to Morgan Stanley.
“While dollar bulls are numerous and perhaps most vocal in expressing their views, there seems to be a more ‘silent’ plurality of investors looking to sell the dollar instead,” strategists including David Adams wrote in a note. “Many have dry powder and are waiting for a sign to enter shorts.”