UBS Cuts Dollar Outlook Again, Says US-China Is Key for Its Path
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A unit of UBS Group AG cut its dollar forecast for the second time in under two months citing that the greenback’s performance hinges on the outcome of the US-China trade face-off.
UBS Investment Bank’s Shahab Jalinoos, Alvise Marino and Vassili Serebriakov said the impact of President Donald Trump’s tariff policies have been more negative on US capital flows than they anticipated. The strategists, who turned bearish on the world’s reserve currency in March, strengthened their outlook on other haven currencies like the euro and yen Wednesday.