UBS Group AG sees gains for the dollar in 2015 as growing divergence in global monetary policy boosts price swings in the $5.3 trillion-a-day currency market.
“We’re overweight in the U.S. dollar,” Mark Haefele, global chief investment officer for the wealth-management division of UBS, said in an interview at Bloomberg’s headquarters in New York on Dec. 2. “‘We certainly wouldn’t be surprised if there is further volatility in the currency markets and further divergence. We hope we can take advantage of that.”
Volatility climbed to its highest since September 2013 this month, advancing from a record low touched in July, a JPMorgan Chase & Co. gauge shows. Foreign-exchange managers have gained 5.4 percent since that low, erasing a loss in the six months through June and marking the first annual profit since 2010, according to the Parker Global Currency Manager Index.