Flash: USD Weakness has gone far enough-UBS

FXstreet.com (Córdoba)-UBS analyst team opened a long USD vs CHF short positions within trading recommendations opportunistic short-term. They explained the reasons for this trade.

Key quotes

"This is open to a target to 0.8888 0.9250 and a stop loss at 0.8700".

"We think EURUSD and USDCHF are range bound and that USD weakness has gone far enough".

"The ECB, which cut rates when EURUSD was close to this level, it is likely that soon he speaks".

"The Fed is in the process of tapering and we strongly improved budget issues in recent days."

View the original article here