Dollar May Touch 1.30 Level Against The Euro – UBS

With the Federal Reserve showing signs of hiking the interest rate in the future, US Dollar is all set to climb new heights against the Euro.

Geoffrey Yu, a London based currency strategist at UBS (NYSE: UBS), said the dollar “could challenge $1.30 versus the euro in a few weeks.”

The dollar’s new found strength comes after the euro’s decline due to the crisis in Greece, and concerns about Portugal, and Spain. The speculation about an interest rate hike will further fuel the rise in dollar.