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Dollar Winning by Default, Says Morgan Stanley’s Sheets

A soaring dollar, Bill Gates is bearish and there’s a job slowdown in China.

The Dollar Index touched its strongest level in two decades, buoyed by still-surging Treasury yields. Adding to the dollar’s attraction is the hawkish Federal Reserve, which has committed to a series of half-point rates hikes in coming months. Meanwhile, the MLIV Pulse Survey showed that about 60% of investors expect the euro to fall to parity against the greenback. However, once it touches parity, more investors reckon the euro will rebound to 1.1500 rather than tumble further.