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George Ma
in
Forex
May 22 13:19

Morgan Stanley no longer recommends selling EUR

American bank stated that EUR is now neutral because of the Franco-German proposal to create a European economic recovery fund.
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Morgan Stanley had become neutral on EUR because of what the bank called a "bold" Franco-German proposal for a €500 billion recovery fund.
American bank withdrew the recommendation to sell EUR and claims that the euro against the dollar "may trade in the range of 1.0690-1.1150 for some time, but now it is more likely to break through up than down".
Investors must consider the proposed fund as a potential reason for smaller regional risk premiums, rather than a catalyst for stronger economic rise, the bank explained.