Euro set to fall further after period of stability, says UBS

Eurodollar August 13

UBS has topped this week's one-month currency forecast rankings with an accurate set of forecasts in all five currency pairs, based on a view that EUR/USD would remain relatively stable as both positive and negative forces weighed on the eurozone.

On July 6, with EUR/USD trading at 1.2377, the Swiss bank forecast the pair to hold steady as euro-selling and fears of quantitative easing (QE) were countered by hopes of positive political initiatives that would improve the structural outlook for the

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