Showing posts with the label Best Save-Haven Currency.

News | Business | Morgan Stanley's Safe-Haven Currency:Morgan Stanley just picked this year's best safe-haven currency

Saheli Roy Choudhury 3-4 minutes - Source: CNBC Yen, euro and U.S. dollar banknotes of various denominations. Kiyoshi Ota | Bloomberg | Getty Images The Japanese yen and Swiss franc remain relatively safe bets, Morgan Stanley said Tuesday, but the investment bank picked the U.S. dollar  as the best safe-haven currency in what’s left of turbulent 2020. The greenback fell to a 27-month low on Tuesday against a basket of its peers, where the dollar index reached 92.477 ⁠— a level not seen since May 2018 as investors took on more risk. The S&P 500 rose to its highest level ever after regaining all of its coronavirus-related losses, having rallied more than 54% from its March low. “We expect the US dollar (USD) to be the best safe-haven currency, especially now that lower US rates make it a more attractive funding currency for carry trades,” Morgan Stanley analysts wrote in a research note. Still, the analysts expect risk se