BRICS: Morgan Stanley Downgrades The U.S. Dollar
Multinational investment bank Morgan Stanley downgraded the outlook for the U.S. dollar from ‘Bullish’ to ‘Neutral’ on Friday. The global bank cited that the Federal Reserve initiating interest rate cuts led to the decline of U.S. Treasury yields. Morgan Stanley’s outlook for the U.S. dollar is now officially ‘Neutral’ and downgraded from its previous stance of ‘Bullish’. The downgrade comes at a time when the BRICS alliance is advancing to uproot the U.S. dollar’s global supremacy. Also Read: BRICS: India Gets Reality Check, Ditching US Dollar Becomes Impossible Surprisingly, Morgan Stanley was the only bank that provided fodder to the U.S. dollar terming the currency ‘Bullish’ last year. The bank has now taken a U-turn calling the U.S. dollar’s prospects ‘Neutral’ in the global markets. The U.S. dollar index is on a steady decline in the last three months and currently stands at 102 points. G...