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Euro Set to Rally on ECB Taper Talk, UBS Wealth Management Says

  • UBS strategists project euro will reach $1.20 in 2017
  • Central bank meets Oct. 20 to review monetary stimulus
Updated on

The euro is poised to rally against the dollar as speculation that the European Central Bank is considering tapering its bond-buying pushes the currency toward its fair value, according to UBS Group AG.

Europe’s single currency strengthened against most major peers Thursday. The climb comes at a time when the euro region’s yields have ticked up as traders mull whether the ECB may provide more clues to the future of its stimulus measures when it announces its next policy decision on Oct. 20.