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On the greenback's recent weakness, MS.......>

DOLLAR
DOLLAR: On the greenback's recent weakness, MS analysts write that the
long-standing correlation between yields and FX rates is breaking down. MS
interpret the price action as suggesting that USD inflows to buy US assets are
dwarfed by USD outflows for funding purposes. This is primarily a result of the
USD's standing as a source of funding - the high availability of capital at a
low price makes it particularly attractive. This reflects strong global economic
fundamentals, according to MS.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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