Morgan Stanley neutral on EUR, see risks skewed to the upside in the near term
Via eFX come comments from MS on the euro outlook:
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- "We remain neutral on EUR but continue to see risks skewed to the upside in the near term, as more countries announce their economic reopening plans for the summer and Europe's COVID vaccination rates continue to pick up"
- "We don't expect EUR/USD to retest the January highs -1.23 though. The latest German Constitutional Court ruling removed a key obstacle to the launch of the EU recovery fund, but our economists think the first disbursement from the fund will likely still slip from 3Q to 4Q21"