UBS analyst: Swiss Franc expectet to decline against Euro

UBS Global Wealth Management analysts said in a report that the Swiss franc may weaken against the Euro as investors seek higher yields in the Eurozone and as growth prospects improve next year. They noted that the European Central Bank was cautious about cutting interest rates at last week's meeting, and the strength of the Swiss franc will ultimately be suppressed by the interest rate differential in favor of the Euro. "At the same time, there is little news about the possibility of a trade agreement between the United States and Switzerland, but any progress would be significant for the Swiss franc." UBS predicts that the Euro against the Swiss franc will reach 0.94 by the end of the year.