Morgan Stanley Says Plan for Weaker Dollar as Fed Stays on Hold

September 22, 2016 2:09 PM

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Morgan Stanley said the dollar will suffer more losses as the greenback fell for a second day after the Federal Reserve refrained from tightening policy and lowered its long-term path for interest rates.

The U.S. currency weakened versus most of it major peers, pushing its drop this year beyond 4 percent, as traders digested the Fed announcement and the Bank of Japan’s move to shift the focus of its stimulus to controlling interest rates. An index of 20 emerging market currencies gained for a fourth...

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