Morgan Stanley Fixed-Global Macro Strategy Global FX Positioning Increasing Sho...-108729372

MJune17,202404:00AMGMTMorganStanley&Co.LLCUpdateGlobalMacroStrategyGlobalZoeKStrauss+1212761-0407+1212761-5287GlobalFXPositioning:Strategist+44207425-3518IncreasingShortEURExposureZoe.Strauss@morganstanley.com+44207425-6841+44207425-9781IntheweekendingFriday,June14,optionspricingdataindicatethatinvestorsaddedAndrewMWatrouslongNOK(versusEUR)andCHFpositions,andincreasedshortEURandNZDpositions.Inthefuturesmarket,NZDandUSD(DXY)longswereadded,whileStrategistinvestorsboughtUSDagainstCADandEURintheweekendingTuesday,June11.Andrew.Watrous@morganstanley.comOverall,optionsdatasuggestthattacticalinvestorsarelongNOK(versusEUR)andUSD(DXY),whilebeingmostshortEURandJPY.PositioninginthefuturesmarketMorganStanley&Co.Internationalplc+remainslongEURandisshortJPYandCAD.DavidS.Adams,CFAExhibit1:StrategistDavid.S.Adams@morganstanley.comWantingLowStrategistWanting.Low@morganstanley.comDominicJKrummenacherStrategistDominic.Krummenacher@morganstanley.comSource:DTCC,Bloomberg,MorganStanleyResearch;Note:Usingoptionsthatweretradedinthepastthreemonthsandexpireinthecomingonemonth.Notionalsaredelta-adjusted.DataasofFriday,June14.Formethodology,seeAssessingFXPositioningwithCurrencyOptions.Exhibit2:Source:DTCC,Bloomberg,MorganStanleyResearch;Note:UsingoptionsthatweretradedinthepastthreemonthsandexpireintheMorganStanleydoesandseekstodobusiness...