Currency strategists at UBS are bearish on the single currency versus the greenback. The specialists expect EUR/USD to slide to $1.40 in a month. The 3-month target of the bank is at the same level. The specialists expect euro to decline despite yesterday’s decisions of the European leaders to provide Greece with the second bailout.
Here are UBS targets for some other major currency pairs:
- EURCHF: 1-month 1.20; 3-month 1.25;
- USDCAD: 1-month 1.00; 3-month 1.00;
- EURGBP: 1-month 0.90; 3-month 0.86.
Chart. Daily EUR\/USD
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