On Wednesday (Oct 26), the sub-session, rose sharply, temporarily traded at 111.09, or 0.22%.
Ralph Hamels, chief executive of UBS, said he expected a mild recession, with a rise to 5% or even 5.25%.
It is also expected to raise interest rates to 2.25% and to 1.25%.
He said the US remained a “very important market” for UBS.
‘s volatility has been a boon for UBS, but the volatility has created further uncertainty about the bank’s clients’ assets.
Clients with deep pockets are looking for further investment opportunities for their money and increasing the return on their investments.
But for now they are more on the sidelines, but not completely out of the market.
The dollar index‘s rise on Tuesday was capped below 112.15 and its fall above 110.75 was supported, suggesting that the dollar‘s rise could hold its downward trend.
If the rally is blocked below 111.30 today, the downside target will be 110.40-109.90.
