Morgan Stanley predicts big fall for euro ...News

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Morgan Stanley predicts big fall for euro
The European single currency could drop by 7% versus the US dollar due to a risk of major rate cuts, the US banking giant says The euro currency is expected to slide toward parity with the US dollar within months, investment bank Morgan Stanley has projected, citing growing political risk and economic weakness. The European single currency will decline to 1.02 against the greenback by year-end, marking a depreciation of around 7% from current levels, David Adams, head of Group-of-10 foreign-exchange strategy at Morgan Stanley, said in an interview reported by Bloomberg. According to the strategist, the outlook com

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