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Investing.com -- UBS strategists have raised their euro forecasts, citing the currency as the primary alternative for global investors looking to diversify away from the U.S. dollar.
In a note, strategists Constantin Bolz and Dominic Schnider projected the euro will reach $1.23 by June 2026, up from their previous forecast of $1.20. They also revised their end-of-2025 target to $1.21 from $1.16.
"The euro stands out as the ’default’ alternative for global investors seeking to diversify away from the U.S. dollar," the strategists wrote.
The euro is currently trading up 0.2% at $1.1617, according to LSEG data. The currency hit a near four-year peak of $1.1829 on July 1.
UBS also adjusted its near-term outlook, now forecasting the euro at $1.19 in September, revised upward from $1.16 previously.
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