Morgan Stanley: dollar to weaken in 2019 on waning growth outlook
US economy will be propped up by consumer spending, says the bank
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The dollar is set to weaken against all major currencies throughout 2019, as the economic outlook for the US increasingly weighs on its currency, says Hans Redeker, chief FX strategist at Morgan Stanley.
As US businesses’ spare capacity to fund investments continues to shrink, growth stateside will increasingly rely on consumer spending to prop it up as the year progresses.
“The US economy has a corporate balance
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