Morgan Stanley wins long-term forecast with USD view
US bank sees the euro winning the race to the downside against the yen
Morgan Stanley topped last week's 12-month currency forecasts after correctly anticipating the extent of the dollar's gains.
The US bank made a call in late 2013 that saw the US currency embark on a multi-year rally. Since February 2014, the dollar index, which measures the buck against a basket of currencies, has risen by about 17.68%. Hans Redeker, head of FX strategy at Morgan Stanley, says history suggests this rally is set to last for some time.
"We forecast in late 2013 a US dollar rally
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