January 26, 2018 / 8:24 AM / a month ago

UBS Wealth Management upgrades 6-month fcasts for euro, sterling

LONDON, Jan 26 (Reuters) - UBS Wealth Management upgraded its six-month forecasts for the euro and sterling on Friday after upgrading its short-term forecasts earlier this week, citing protracted dollar weakness.

The firm upgraded its euro forecast against the dollar to $1.28 for six months from a previous forecast of $1.22, according to a report published by the Chief Investment office at UBS Wealth Management.

It also upgraded the forecast for the British pound against the dollar to $1.45 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 Dhara Ranasinghe)

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