The surging dollar will separate the winners and losers this earnings season

Michael Raines/Getty Images; Jenny Chang-Rodriguez/BI

• The US dollar is at multiyear highs as investors prepare for the possibility of more inflation.
• Morgan Stanley says the dollar strength will clearly separate the winners and losers of the upcoming earnings season.
• Stocks with high foreign sales exposure are most at risk of disappointing.

A soaring US dollar is likely to separate the winners from losers this upcoming earnings season, according to Morgan Stanley chief US equity strategist Mike Wilson.