Buying Euro-Dollar Dips a Top 2021 Trade at Morgan Stanley

After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.

• Jun 26, 2025Dollar drops to lowest since 2021 against euro, sterling-0.9%
• Jan 16, 2023Morgan Stanley cuts year-end dollar forecast | Reuters-0.0%
• Feb 28, 2018Japanese yen may strengthen as dollar weakens: Morgan Stanley and ING-0.1%
• Feb 7, 2018US dollar will stay weak if China has its way: Morgan Stanley - The Business Times+0.2%
• Jan 4, 2021Dollar slips in to 2021 as investors ride downtrend | The Business Standard-0.0%

After 388 past bullish macro events, Euro (USD per EUR) moved a median +0.3% over 5 sessions (62% higher; middle half -0.4% to +1.1%), and +0.1% over 20.

• Jan 16, 2023Morgan Stanley cuts year-end dollar forecast | Reuters+0.5%
• Jan 4, 2021Dollar slips in to 2021 as investors ride downtrend | The Business Standard+0.2%
• Jul 1, 2025Dollar lowest since 2021 against euro, gains on yen-0.5%
• Mar 9, 2020US dollar market sees major sell off as currency traders buy EUR-2.2%
• Dec 1, 2020Why the U.S. dollar is trading at a 2 1/2-year low - MarketWatch+1.6%