Buy Dollar Sell Euro, Financial Rescue May Boost Dollar

Currency Strategist of UBS AG, Brian Kim advises selling the euro at $1.4655 with a target of $1.4250. Investors should exit the bet if the currency rises to $1.4890.

Data on 24th September reveled that business confidence in Germany, the euro region's largest economy, fell to the weakest level in three years. While the USD700 billion bailout package by the US government may stabilize the money market and reigniting the US economy.

The low business confidence in Germany may signal that the risk of recession has spread to Europe. This would affect euro as Germany is the largest euro's economic region.