In a note to clients today, UBS discuses its view on EUR/USD projecting a range path for the pair with an upside valuation. Specifically, UBS builds a contrarian view where they don't see the beginning of the Fed tightening cycle as a bearish trigger for EUR/USD. The following are the 3 key points in UBS' argument along with its targets for EUR/USD over the coming months. "EUR/USD is the view of ours that receives the most pushback from investors, most of whom appear significantly more bearish. The pushback to our view is often that even if market pricing for the Fed and ECB is correct, the very act of the Fed ... (full story)