Stephen Jen's three favorite currencies

Stephen Jen runs the SLJ Macro Partners hedge fund, and is the former currency research head at Morgan Stanley.

"My three favorite currencies to buy? Dollar, dollar, dollar!" 

Jen expects more dollar strength vs. the euro, aussie, real and won. He’s also fairly bearish on developed markets, especially Europe.

“The developed West will struggle in the quarters and years ahead … European growth will likely disappoint … If we assume European banks, over the course of several years, reduce their LTD ratio toward that of the U.S., some $7 trillion in loans will need to be curtailed, assuming deposits don’t rise”