Morgan Stanley saying they are now strategically bullish on the euro for the first time since crisis

From a client note. MS 'strategically bullish' on euro, citing:

  • strong data
  • political events - political stability
  • valuations
  • equity market inflows due to growth-related factors

Says the January low was the bottom

  • Looking for 1.18 by year-end (were previously at 0.97)
  • & 1.19 by Q1 of 2018 (previously calling 1.00)