UBS: The current rise of the US dollar may be temporary.

Jin10 data, July 31 - Analysts from UBS's Global Wealth Management division stated in a report that the current rise of the US dollar is likely just a short-term holdings adjustment and does not indicate a reversal of its recent weakening trend. They noted that investors may have closed their previous shorting positions on the dollar before Wednesday's Fed meeting, where the Fed kept interest rates unchanged. "Once the Fed signals readiness to restart interest rate cuts in the coming months, the dollar's weakness trend should re-emerge." This view is based on the expectation that US economic growth will further slow down in the second half of the year, compared to a deceleration in the first half. UBS expects the euro to rise to 1.20 against the US dollar later this year.