Flash: US economy strengthens US dollar - UBS

FXstreet.com (Córdoba) - The EUR/USD fell below 1.2900 as US consumer confidence in May surprised significantly to the upside, printing 76.2 versus an upward revised 69.0, notes the UBS analyst team. "The latest print is the highest since early 2008 and corroborates the University of Michigan confidence index jump in May".

"Given the stronger US economy, we expect EURUSD to fall further towards 1.26 within the next 3 months", UBS adds.