germany, hans redeker, morgan stanley's head of global fx strategies. trays hold on after the hawkish hold from the fed? mr. redeker: we think the decline has more weeks to go -- we think about to months. we suggested the u.s. dollar could find index wide between 4% and 5%. many look at what it means for the high-yielding, emerging market currencies. in some cases, you can make gains up to 8%, 9%. a significant move to come. favoredat is the currency emerging park's hair you look at to distinguish if the risk valet -- risk rally is still on watch mark --still on? mr. redeker: you have to look at the story -- brazil. the turnaround situation, we would say there is significant inflows into indonesia into the fixed income environment there. there is no spilling over into the equity environment. we think indonesia has a leg up in this and has good potential. you look at the russian currency, that has a lot to do with the dynamic of the dollar, oil, and politics. in turn, a decline in the russian economy one and a half years ago, there is now a springboard e

exactly one of the reasons i think that hans redeker and morgan stanley are predicting again in the euroersus the dollar by the end of the year. they don't think that anything mario draghi will do tomorrow or throughout the year is going to be able to hold back the euro. that will obviously frustrate growth. some percent of it frustrating exports. if you take a look at the chart that i've got, morgan stanley, that look at the euro, here you can see what happened in the aftermath of the greg's it -- brexit. it eventually came down and pierce that level. at the euro is back up 112.39. morgan stanley saying it will continue to go up. they keep climbing that wall of worry. there's no way for capital outflow here. one of the interesting things i think about this call for morgan stanley is that it runs exactly the call at merrill lynch that we are actually going to see 110 euro and below. really interesting, bullish call on the euro. scarlet: all right, i have some breaking news here. talking about hp, hewlett-packard enterprises, the software division of the company . the good bank versus the