US dollar will stay weak if China has its way: Morgan Stanley

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

• Nov 26, 2020Euro rises to near 3-month high as US dollar falls - The Business Times-1.2%
• Aug 30, 2022ECB bets boost euro, US dollar slips from 20 year peak - The Business Times+1.1%
• Feb 28, 2018Japanese yen may strengthen as dollar weakens: Morgan Stanley and ING-0.1%
• Aug 31, 2021US dollar at 3-week lows as traders await tapering clues - The Business Times-0.2%
• Aug 31, 2020China lifts yuan midpoint to highest since July 2019 on persistent dollar weakness | The Straits Times+0.1%

After 362 past bearish macro events, USDCNY moved a median -0.1% over 5 sessions (42% higher; middle half -0.4% to +0.1%), and -0.2% over 20.

• Sep 21, 2017China's yuan inches up as post-Fed US dollar rally fades - The Business Times+1.1%
• Mar 29, 2018China's yuan to post biggest quarterly rise against US dollar in a decade - The Business Times+0.2%
• Aug 31, 2020China lifts yuan midpoint to highest since July 2019 on persistent dollar weakness | The Straits Times-0.3%
• Dec 28, 2017China's yuan rises on US dollar weakness, on track for best year since 2008 - Times of News-1.0%
• Jul 30, 2017China's yuan firms on stronger fixing, set for the 3rd winning month - The Business Times-0.1%