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MS: short on EUR/USD

Strategists at Morgan Stanley opened a strategic short on EUR/USD from $1.3300 with a target of $1.2700 and a stop at $1.3440.

They bullishness towards the USD is explained by the expectations of QE tapering in September. As for the single currency, analysts see the main risk in the ECB policy and the German elections.

Chart. Daily EUR/USD

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