Hans Redeker, Morgan Stanley Global Head of FX strategy offered a bearish view on the US dollar in the coming months while speaking in a Bloomberg interview earlier today.
Key Quotes:
“Thinks that the dollar is near its cycle peak.
US Q1 GDP report was a case of ‘buy the rumor, sell the fact’.
Says that the report was by no means convincing.
PCE data later should show more moderation in inflation.
That will put the spotlight on the Fed i.e. will they take steps towards a rate cut?
There are signs that the global economy is recovering.
The Chinese economy is improving and will have spillover effects to other economies.
The time lag from Chinese rebound takes about two to six months.”
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