Forex Flash: EUR/USD soon expected to crack 1.30 - UBS (San Francisco) - Markets have been watching closely every statement coming out of the US fiscal cliff talks on Capitol Hill, and, despite the occasional pessimism, statements from lawmakers involved in negotiations have generally been positive, suggesting that a deal to prevent the world’s largest economy from falling off its fiscal cliff will be realized before year-end. “Such statements naturally [lift] EURUSD,” says UBS. “We expect soon a break through 1.30. Thursday's US Q3 GDP growth was in line with expectations; [confirms] stable growth and is therefore supportive for our EURUSD forecasts.”

EUR/USD last trades at 1.2995.