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2025-07-31 23:55:53
[UBS: The current rise in the US dollar may reflect a short-term position adjustment] UBS Global Wealth Management analysts said in a report that the current rise in the US dollar may reflect a short-term position adjustment rather than a reversal of the recent weak trend. They said that investors may close their short positions on the US dollar before the Federal Reserve meeting on Wednesday because the Fed kept interest rates unchanged. "Once the Fed hints that it is ready to resume rate cuts in the coming months, the US dollar should continue to weaken." This view depends on the market's expectation that US economic growth will slow further in the second half of the year compared with the first half. UBS expects the euro to rise to $1.20 against the US dollar later this year. Data from the London Stock Exchange showed that the euro rose 0.3% to $1.1443 against the US dollar, after hitting a seven-week low of $1.1399 on Wednesday. (Dow Jones)
