logo
episode-header-image
Sep 5
5m 37s

Why the U.S. Dollar Still Smiles

MORGAN STANLEY
About this episode
Our G10 FX Market Strategist Andrew Watrous challenges the prevailing market view on the U.S. dollar, reaffirming the relevance of Morgan Stanley’s "dollar smile" framework.   Read more insights from Morgan Stanley. ----- Transcript ----- Welcome to Thoughts on the Market. I’m Andrew Watrous, G10 FX Strategist at Morgan Stanley. Today – a look at h ... Show More
Up next
Nov 21
AI Capex Boom Puts Credit Markets to the Test
<p>As market murmurs about an AI bubble, our Head of Corporate Credit Research Andrew Sheets offers some perspective on the impacts of the increasing demand for debt.</p><p>Read more&nbsp;<a href="https://www.morganstanley.com/insights?cid=mg-SM_CORP-insights-17607" rel="noopener ... Show More
4m 11s
Nov 20
2026 Global Outlook: Micro Themes Take the Spotlight
<p>Live from Morgan Stanley’s Asian Pacific Summit, our Chief Fixed Income Strategist Vishy Tirupattur explains why micro trends are likely to be more on focus than macro shocks next year.</p><p>Read more&nbsp;<a href="https://www.morganstanley.com/insights?cid=mg-SM_CORP-insight ... Show More
4m 48s
Nov 19
2026 U.S. Outlook: The Bull Market’s Underappreciated Narrative
<p>Our CIO and Chief U.S.&nbsp;Equity Strategist Mike Wilson explains why he continues to hold on to an out-of-consensus view of a growth positive 2026, despite near-term risks.</p><p>Read more&nbsp;<a href="https://www.morganstanley.com/insights?cid=mg-SM_CORP-insights-17607" re ... Show More
5m 27s
Recommended Episodes
May 2025
Watch the dollar!
Things aren’t looking so good for the U.S. dollar. Though it’s spent decades as the world’s reigning reserve currency, it’s been weakening lately thanks to tariffs and uncertainty in the U.S. economy.But its declining value, has been in the making for a while, according to Harvar ... Show More
28m 43s
Aug 2021
US yields jump, gold dives ahead of US inflation!
Asian stock markets kicked off the week on a positive note, although the US indices had nothing more exciting than mixed performance after the announcement of strong jobs data on Friday. The US jobs data gave a small boost to the Dow and the S&P500 which closed Friday’s session 0 ... Show More
10m 42s
Jul 2025
Can The Dollar Be Dethroned?, with Ken Rogoff
<p>Americans are often told that they benefit from the privilege of the dollar serving as the world's currency. A strong dollar makes imports cheaper, facilitates demand for American companies, and is tied to cheap government borrowing. But what happens when this powerful privile ... Show More
57m 42s
Nov 2024
The rotation continues
<p>European equities enjoyed a strong day yesterday, while Wall Street had a moderately positive day, marked by a rotation out of tech stocks and into more cyclical sectors such as financials, industrials and retail. Elsewhere, Gary Gensler announced his resignation as Chairman o ... Show More
14 m
Aug 2024
The Rug Pull on Global Liquidity | Brent Johnson on Unwind of the Yen Carry Trade, and the Exaggerated Rumors of the Dollar’s Demise
Forward Guidance is sponsored by VanEck. Learn more about the VanEck Morningstar Wide MOAT ETF (MOAT) at https://vaneck.com/MOATFG. This interview was recorded on Friday, August 2, during Friday's sell-off but before the vicious sell-off on Monday. he did talk about the potentia ... Show More
1h 19m
Aug 2024
More US stocks rose than fell, even as Nvidia dropped
<p>Nvidia did not meet lofty earnings expectations and its stock fell 6%, while revised Q2 US GDP figures beat expectations at 3%, meaning more stocks rose than fell on the S&amp;P 500. US Treasury yields rose on the better economic data, although Treasuries are on track for a fo ... Show More
14m 12s
Mar 2025
Les institutionnels sont passés baissiers sur le dollar US | Fast & Forex
Après avoir été leader du Forex pendant plusieurs mois, le dollar US est désormais la devise majeure du FX la plus faible en 2025 et les traders institutionnels viennent de passer net vendeurs pour la première fois depuis la victoire de Donald Trump à l’élection présidentielle. Q ... Show More
23m 5s
Sep 2024
Bank of Canada Drops Interest Rates
<p>On today’s show we are seeing another central bank drop their benchmark lending rate. The Bank of Canada dropped its benchmark interest rate for the third time in a row, leaving the rate at 4.25%. This is in stark contrast to the US Fed Funds rate which remains at 5.25%-5.5%.< ... Show More
5m 11s