0941 GMT - The euro will be the key alternative for global investors seeking to diversify away from the U.S. dollar, UBS strategists Constantin Bolz and Dominic Schnider say in a note. They raise their euro forecasts as a result. UBS expects the single currency will reach $1.23 by June 2026, up from $1.21 at the end of 2025. This compares with previous forecasts of $1.20 and $1.16, respectively. "The euro stands out as the 'default' alternative for global investors seeking to diversify away from the U.S. dollar," they say. The euro is last up 0.2% at $1.1617, having hit a near four-year peak of $1.1829 on July 1, LSEG data show. UBS forecasts the euro at $1.19 in September, up from $1.16 previously.(emese.bartha@wsj.com)
(END) Dow Jones Newswires
July 16, 2025 05:41 ET (09:41 GMT)
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