Morgan Stanley is bullish on USD.

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Analysts at Morgan Stanley expect the US dollar to strengthen against major currencies such as EUR, JPY and CHF. Data releases from US last week showed solid figures from labor market, domestic demand, and manufacturing. However, the analysts believe that the Fed will stay on the sidelines after the sharp tightening of financial conditions to start the year and thus the USD should lose ground against high yield currencies in near term.

US dollar strengthened against EUR and GBP this week. It rose by 3.5% and 1.3% against GBP and EUR respectively from Friday’s close.

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