Stephen Hull News
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Moore Capital Management LLC, the $15 billion hedge fund run by Louis Moore Bacon, cut 10 to 15 investment jobs as it restructures one of its equity teams, according to three people with knowledge of the matter.
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Moore Capital Management LLC, the hedge fund founded by Louis Moore Bacon, hired Stephen Hull from Brevan Howard Asset Management LLP, said a person with knowledge of the matter.
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Morgan Stanley advised selling the euro against the Swiss franc, because a rise in borrowing costs may cause stress in the euro area’s economy, while in Switzerland “leading indicators of activity remain sound.”
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Morgan Stanley raised its forecast for the dollar’s value against the euro to $1.16 from $1.24 by the end of the year after the Greek debt crisis “undermined” the European Central Bank.
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The dollar may drop to the weakest since December 2009 versus the euro as the Federal Reserve buys more assets in so-called quantitative easing to stimulate growth, Morgan Stanley said.
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The Swiss franc fell as Japan intervened for the first time since 2004 to weaken the yen, spurring speculation the European nation’s central bank may resume sales of its currency to curb its strength.
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The pound advanced against the euro, heading for its first weekly gain in seven against the 16-nation single currency, after a report showed U.K. consumer confidence unexpectedly improved this month.
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For all the losses facing Europeans this year, investors from the region who bought U.S. stocks as the euro weakened are getting the best returns in a decade.
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Morgan Stanley cut forecasts for the dollar against the euro, citing the increasing likelihood of the Federal Reserve further easing monetary policy.
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The yen rose toward a seven-week high against the euro on signs the global economic recovery is slowing, supporting demand for Japan’s currency as a refuge.
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