USD strengthens as investors play it safe
UBS topped this week's three-month currency forecast rankings with a view that the US dollar's safe-haven status would keep the unit strong.
"Things were very uncertain three months ago and risk aversion was the main driver of our view, with repatriation flows being dollar positive," said Geoffrey Kendrick, director of foreign exchange strategy at UBS in London.
Kendrick also expected the yen to benefit from its safe-haven status as investors dumped risky investments in the wake of the Lehman
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