USD to weaken over the medium-term – Goldman Sachs
|The Goldman Sachs analysts offer an outlook on the Fed’s interest rate policy and the US dollar over the coming months, in the latest overnight note.
Key Quotes:
“Expect another 50bp of rate cuts.
Not looking for as deep cuts from the FOMC as the market is expecting.
Expect the USD to weaken over the medium-term.
But downside will likely be limited in near term - modest move higher against Asian Emerging Market (EM) currencies and the EUR.
USD still seen as a 'haven' - will limit downside.
Path ahead depends on the relative growth and policy outlook -- and we should get clearer signs on both in the next month or two.”
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