Key predictions from Morgan Stanley on the future of the dollar
Morgan Stanley expects the US dollar to decline to levels seen during the COVID-19 pandemic next year and advises investors to pivot toward other currencies.
Morgan Stanley strategists predict that the US dollar will lose value due to interest rate cuts and a slowdown in economic growth.
The strategists stated that the dollar is expected to retreat to levels seen during the COVID-19 pandemic by the middle of next year. In this context, the US Dollar Index is expected to fall by 9 percent to the 91 level.
In their note dated May 31, Matthew Hornbach and his team stated that interest rate and foreign exchange markets have entered major trends following two years of volatile trading, and that this situation will further weaken the US dollar. The strategists recommend that investors turn to the Yen, the Euro, and the Australian dollar.
These views are also supported by strategists at JPMorgan Chase & Co. The team led by Meera Chandan, while evaluating the effects of US President Donald Trump's trade policies, pointed to the future depreciation of the dollar. JPMorgan strategists also advise investors to move away from the US dollar and invest in alternative currencies.
News Source: 12punto
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