Euro’s Rally Against Dollar May Be in ‘Last Stage,’ UBS Says
June 2 (Bloomberg) -- The euro’s rally against the U.S. dollar may be entering its “last stage,” and investors would likely benefit from selling the 16-nation currency against the greenback, UBS AG said in a note to clients yesterday.
The euro is likely to drop toward $1.30, UBS analysts led by Mansoor Mohi-uddin, Zurich-based chief currency strategist, wrote in a research note. The analysts reiterated forecasts for the euro to trade at $1.40 in one month’s time and to drop to $1.30 in three months.
The dollar traded at $1.4152 per euro as of 6:43 a.m. in Tokyo.