UBS’ Weaker Dollar 2025 Forecast Resembles Pre-Election Outlook
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A unit of UBS Group AG is flipping back to a similar forecast for the dollar and foreign currencies that it made before Donald Trump was elected US president.
Strategists — who just two months ago predicted an advance in the dollar — now see the world’s reserve currency weakening, with the euro and Japanese yen strengthening this year. UBS Investment Bank’s Shahab Jalinoos, Alvise Marino and Vassili Serebriakov cite Trump’s “apparently relaxed” stance on recession risks, “groundbreaking” fiscal developments in Europe, as well as the unexpected “dramatic hue” the US trade standoff with Canada took, for their latest outlook.