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Rich Asians mostly stick with US dollar rally UBS sees almost done
UBS Group AG, the world's largest private bank, is telling its wealthy clients that the US dollar's gains are set to be limited as the Federal Reserve will probably tighten policy gradually after liftoff next month. The Swiss bank initiated a trade this month to sell the euro versus Norway's krone - rather than against the dollar - for clients who have given it the mandate to manage their assets, said James Purcell, Hong Kong-based cross asset strategist at UBS's wealth management business. The greenback is poised to peak around US$1.05 against the 19-nation currency even with the prospect for further European ... (full story)