UBS: the dollar will resume its rally

Currency strategists at UBS say that, while more recent positive economic indicators from the U.S. and hopes to make a decision to overcome the debt crisis at the EU summit endorsed a decline in demand for the dollar, which is also due to rebalancing of positions by speculators, the bulls should not expect significant to achieve. The bank sees a serious risk that European officials have once again disappointed investors that he would support another surge of pessimistic sentiment among investors, while improving the nature of the data from the U.S. makes less and less hope for a speedy QE3, and UBS warned that the euro / dollar end of the year may be in the $ 1.30 - $ 1.20, while the pound / dollar risk of shift in the range $ 1.40 - $ 1.50.