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Morgan Stanley See USD Underperforming into Month-End

FOREX
  • Local equities have strengthened across November, suggesting the USD should weaken against most others in G10 in the final week of November.
  • The exception is AUD, NZD and NOK.
  • They add that if the S&P 500 ends the month higher, they expect EUR/USD to weaken slightly after the 4pm WMR fix.

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