December 23, 2024 at 11:30PM
UBS has reiterated its recommendation for investors to capitalize on further dollar strength by diversifying into other currencies.
Despite recent gains in the US dollar, driven by shifting expectations for Federal Reserve and US government policy, the bank maintains that the dollar remains overvalued.
While UBS does not anticipate a sharp decline in the greenback in the near term, it sees opportunities for investors to pivot toward more attractive currencies. Among its top picks are the
British pound (GBP)
and the Australian dollar (AUD),
which are favored for their potential to perform well as global monetary conditions evolve.
This article was written by Eamonn Sheridan at www.forexlive.com.
UBS says the USD value is ‘stretched’ sell further strength and get into GBP and AUD