Euro has more room to appreciate – UBS

The Swiss bank says structural drivers in the economy favour upside risks in the euro, while the greenback faces risks

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Power play: single currency looks set for a boost as growth in the eurozone remains strong

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The euro will continue to strengthen against the dollar as the European Central Bank lags the Federal Reserve and other major central banks in its policy-tightening cycle, says Amr El Sherif, a macro strategist at UBS, which topped FX Week’s 12-month forecast table for G10 currencies.

Despite robust growth in the eurozone, the single currency is still some way short of its purchasing power parity at its current level of $1.23 – 8% below its PPP value, which the O

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