logo
episode-header-image
Sep 2025
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
Yesterday
Where Investment Themes Intersect and Beat Markets
Our Global Head of Thematic and Sustainability Research Stephen Byrd unpacks how major investment themes for 2026 are increasingly interconnected, generating gains for investors.Read more insights from Morgan Stanley.----- Transcript -----Welcome to Thoughts on the Market. I’m St ... Show More
5m 5s
Apr 17
The Real Drivers of GLP-1 Growth
Our Head of U.S. Pharma and Biotech Terence Flynn discusses how the rapid pace of adoption of weight management treatments could have far-reaching implications across healthcare, consumer behavior and global markets.Read more insights from Morgan Stanley.----- Transcript -----Wel ... Show More
4m 21s
Apr 16
Markets Eye Hungary’s Political Shift
Our Global Head of Fixed Income Research Andrew Sheets breaks down how Péter Magyar’s win in Hungary’s election could smooth relations with the EU and lower the risk premium in the country’s assets.Read more insights from Morgan Stanley.----- Transcript -----Welcome to Thoughts o ... Show More
3m 55s
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
Aug 2022
Turkish lira is a time bomb!
The Norwegian central bank raised the interest rates by 50bp yesterday and said that there will be a similar move in September, to tackle the soaring inflation in Norway. The Philippines hiked by 50bp as well, to cool inflation. The Federal Reserve (Fed) minutes released this Wed ... Show More
10m 19s
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