Skip navigation


Current DateTime: 01:14:14 30 Nov 2009
LinksList Documentid: 24355697
  • Runway Angels

      The superbowl of fashion shows, models walk down the runway at the 2009 Victoria's Secret Show.

  • Smartphone Guide

      Here's a need-to-know guide to nine devices, based on features, price, network and platform.

  • Wines for the Holidays

      Not quite sure what wine to pair with Turkey or Creme Brulee? Our experts do.

FEATURED QUIZZES


Current DateTime: 01:14:14 30 Nov 2009
LinksList Documentid: 33793611
  • How Well Do You Know Your Bird?

      Let's talk turkey. Test your turkey knowledge and perhaps pick up a bit of trivia to trot out at your holiday meal.

  • A Healthier & Wealthier You

      Take the following quiz and find out how much you know about the impact of obesity on the health of the U.S. economy.

  • The Billionaire BFF's

      Philanthropists. Bridge partners. Hockey players. Which responses are based on facts from Buffett's and Gates' real lives?


Current DateTime: 01:14:14 30 Nov 2009
LinksList Documentid: 24890560
  • Winterizing Your Portfolio

      If 2009 was the winter of our discontent, will 2010 be a winter wonderland for investors? A lot depends on the recovery—or lack thereof.

  • Investor's Guide to Real Estate

      Some even say the long-awaited recovery is here. Regardless, buyers and sellers alike can profit from our guide.

  • Alternative Investing

      Stocks and bonds? Sure. But it's a big world out there for investors.

powered by digg
Game Nearly Over for Dollar Decline: Morgan Stanley
By: CNBC.com | 01 Jul 2008 | 07:13 AM ET
Text Size

The dollar's recent declines against the other major currencies are set to reach the final whistle and greenback sellers will have to retreat to the sidelines, David Darst, chief investment strategist of Morgan Stanley Global Wealth Management Group told CNBC Tuesday.

"In a soccer match of 90 minutes, we think we are in the 80th minute of decline of the dollar against most of the major currencies," Darst said on "Worldwide Exchange."

But another sharp drop in financials would lead to further selling for the dollar if the Federal Reserve was forced into more interest rates cuts, Darst said.

In addition, Morgan Stanley believes there could be gains in store for some of the Asian currencies versus the dollar, he said.

'Long, Grinding Erosion'

Despite the bullish view on the dollar, Darst told CNBC that the current bear market is far from over and is now entering a painful third stage of "long grinding erosion, which takes several months."

Comparing the current market turmoil to previous bear-market periods, Darst said that there are significant falls for stock markets still to come over the second half of the year.

"For the market as a whole we have not seen that capitulatory, cathartic purging that often spells the very final bottom," Darst said.

With the tail end of the market slump yet to happen, Morgan Stanley Global Wealth Management Group is keeping its portfolio firmly defensive with a 4 percent allocation to commodities, 16 percent in cash and some inflation-protected securities, which adjust upward as inflation goes higher.

© 2008 CNBC.com
Tools:
Print EmailAdd This share icon
  • digg share

CNBC HIGHLIGHTS

  • These four sectors will be the next to lead the market.
  • Zhu Zhu Pets are this year's must-have toy, fetching $40 or more on eBay.
  • T shirt man
  • From the why-didn’t-I-think-of-that file, we present Jason Sadler, a man whose job is wearing T-shirts.
  • It may be the most unusual guide to business you'll read.
  • Shopping for a gadget hound? The choices can be baffling. Here are a few that should be a hit.
  • "The Who" will be the halftime act for Super Bowl XLIV on Feb. 7 in Miami. Is the NFL behind the times?
ADD COMMENTS
Remaining characters


Current DateTime: 01:04:01 30 Nov 2009
LinksList Documentid: 29778428

Current DateTime: 01:01:49 30 Nov 2009
LinksList Documentid: 29779196

Current DateTime: 01:01:49 30 Nov 2009
LinksList Documentid: 29779199

Current DateTime: 01:01:49 30 Nov 2009
LinksList Documentid: 29779198
  Data is a real-time snapshot  *Data is delayed at least 15 minutes
Global Business and Financial News, Stock Quotes, and Market Data and Analysis

© 2009 CNBC, Inc.  All Rights Reserved.
A Division of NBC Universal
Thomson ReutersThomson Reuters