FXstreet.com (Barcelona) - According to the Economics Research Team at Goldman Sachs, “The latest IMF reserve allocation data show a continued shift back towards increased USD holdings – just as depreciation pressures on the Dollar are intensifying.”
Overall, “our analysis suggests that the QE3 announcement increases USD downside pressures, although the Dollar is unlikely to depreciate in a straight line unless a number of additional factors are lined up at the same time.” the team adds. As such, Central bank reserve managers have recently increased their USD holdings again.
Overall, “our analysis suggests that the QE3 announcement increases USD downside pressures, although the Dollar is unlikely to depreciate in a straight line unless a number of additional factors are lined up at the same time.” the team adds. As such, Central bank reserve managers have recently increased their USD holdings again.
