August 12, 2025 09:55 AM GMT G10 FX Strategy How Much Risk Premium Is in USD? Risk premium has been the chief driver of the post-Liberation Day USD moves. We estimate that risk premium has roughly halved from its post-Liberation Day peak to about 6-8%, but there is ample scope for it to return to, and exceed, those levels, generating a weaker USD. Key Takeaways Please add me to your distribution list. | M August 12, 2025 09:55 AM GMT | | Global Idea | | --- | --- | --- | | G10 FX Strategy | Morgan Stanley & ...