Morgan Stanley – Our Views

July 23, 2007 § Leave a comment


Contrary to popular presumption, US real money mangers are the biggest dollar diversifiers, not the Asian central banks. My calculations show that cumulative outflows may have totaled US$1.16 trillion in the past four years. This may help explain the downward drift in the dollar in recent years, and why the dollar is so weak now. 

Morgan Stanley – Our Views


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