UBS Wealth That Foresaw Euro Rally Now Sees a Correction Looming [Bloomberg Business News]
Bank of America Corporation (BAC)
Last bank of america corporation earnings: 4/15 06:45 am
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Source: Bloomberg Business News
ECB seen unwinding stimulus slower than market anticipates Common currency has overshot value implied by data: BofAML The few savvy investors who foresaw this year’s rally in the euro now say the currency may lose steam. UBS Wealth Management, which predicted at the start of the year that the common currency may climb, sees a correction on the cards as it bets that the European Central Bank will start unwinding its stimulus slower than the market expects. Its projection of $1.15 stood out given its contrarian nature at a time when the majority of forecasters surveyed by Bloomberg expected it to slip to around $1.03 or even parity. The euro began the year on a bleak note as analysts were bullish on the dollar given the lofty expectations surrounding then newly elected President Donald Trump’s fiscal reforms. The common currency, however, defied skeptics to rally in the absence of tax reforms in th
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