January 22, 2018 / 9:43 AM / a year ago

UBS wealth management upgrades forecasts for euro, sterling

LONDON, Jan 22 (Reuters) - UBS Wealth Management upgraded its short-term forecasts for the euro and sterling on Monday, citing protracted dollar weakness that it predicts is unlikely to end any time soon.

In a report published by the Chief Investment office at UBS Wealth Management, it upgraded the euro forecast against the dollar to $1.25 over the next three months from a previous forecast of $1.18.

It also upgraded the forecast for the British pound against the dollar to $1.40 from $1.36 for a similar time frame.

The CIO’s office oversees the investment policy and strategy for approximately $2 trillion in invested assets. (Reporting by Saikat Chatterjee; Editing by Tommy Wilkes)

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