Morgan Stanley: Investors add a dollar to the dollar before the Fed's interest rate conference

On 28 July, Morgan Stanley strategists quoted data stating that investors had increased their position in excess of the United States dollar and the pound sterling before the interest-rate meeting between the Fed and the British Central Bank this week. “Priority pricing data show that investors have increased the amount of space available for multi-dollar indexing and the amount of space available for pound sterling,” the strategists Molly Nickolin, David Adams and Andrew Warrous wrote on Monday that “the options data point to multi-dollar warehousing, while futures market data indicate that the dollar is multi-silo”, and they say, “Asset Management is mainly multi-euro and empty pounds, while leverage funds are over-pound and empty New Zealand dollars”。