UBS Global Favors Euro, Dollar as Crisis Fades Amid Hiring

UBS AG’s asset management business favors the euro and the U.S. dollar as easing financial and political risks in the 17-nation region and employment gains in the world’s biggest economy support the two currencies.

“The focus on getting rid of currency risk, particularly euro-related risk, has decreased massively recently,” Jose Blanco, Zurich-based regional chief investment officer for Europe, Middle East and Africa at UBS Global Asset Management, said in a July 5 phone interview. “The level of fear of the euro has abated a bit.” Europe’s shared currency and the greenback are “attractive,” said Blanco, who is part of a team managing almost 100 billion Swiss francs ($103.6 billion).