A UBS call on EUR/USD is probably not what you think (1.2 by end 2017)

UBS wealth management are out with a call for a higher euro.

• They say the USD is overvalued against other G10 currencies
• Forecast EUR/USD to 1.20 by the end of next year
• UBS cite euro support from ECB tapering its QE
• Add the GBP is undervalued and will further gain next year against the USD