FXNEWS-Morgan Stanley's Jen see euro falling to $1.20
Mon, Oct 6 2008, 12:50 GMT
http://www.afxnews.com
Oct 6 (Reuters) - "As the world slows in synchronism, cross-border risk-reduction will likely accelerate and the dollar will continue to be supported for all the reasons we've presented in recent months, i.e., the Dollar Smile will keep working to puzzle investors who were looking for a dollar meltdown," says Morgan Stanley head of global FX strategy Stephen Jen. He adds that the euro is in jeopardy. "I now can see it going to $1.20." Says the euro is overvalued, over-owned, and over-rated.
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