Morgan Stanley see a downturn for the US dollar, in 2023

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Morgan Stanley:

• “Additional USD power into the summer time: We count on modest however broad-based power to proceed, with the DXY reaching 105 by 3Q22, fueled by North American financial outperformance and pessimism in Asia and Europe. CAD and USD outperform whereas the Antipodeans lead the laggards,” MS notes.
• “A USD downturn into 2023: Nothing will get worse perpetually; overly pessimistic expectations meet central bankers more and more prioritizing progress over slowing inflation pressures. European high-beta currencies lead the cost versus USD and low yielders,” MS provides.

Yep, rumours of the loss of life of USD have been significantly exaggerated ….