UBS Global Wealth Management stated that the recent strength of the US dollar may not continue after Trump won the US presidential election. Analysts stated in the report that in the medium to long term, the US dollar may weaken. "Trump's proposed policies are expected to expand the twin deficits and weaken the long-term attractiveness of the US dollar." They also stated that Trump may not be able to fulfill his policies to boost the US dollar and may seek lower yields and weaker currencies. Meanwhile, they stated that the market has gone too far in reducing expectations for a Fed rate cut, and the "over-adjustment" of US Treasury yields may follow the decline of the US dollar. UBS predicts that by December 2025, the euro against the US dollar will rise from the current 1.0573 to 1.12.