UBS Says Too Early to Chase Dollar Weakness on Global Rebound

By Justin Carrigan

Aug. 26 (Bloomberg) -- Investors should wait until “later in the year” to bet on declines in the dollar, UBS AG said.

“We remain cautious about the rebound in global asset markets and favor currencies such as the dollar that will benefit from a potential return of risk aversion in the near term,” Brian Kim, a strategist at UBS in Stamford, Connecticut. “We refrain from chasing dollar weakness at the current juncture and think that long-term dollar bears are likely to get better levels to sell the dollar.”

To contact the reporter on this story: Justin Carrigan in London at jcarrigan@bloomberg.net