Goldman Sachs: A few chapters separate us from the top of the dollar


(MENAFN– Al-Bayan)

Goldman Sachs said that reaching the peak of the dollar’s performance remains a few more quarters away, with increasing speculation about the end of the US currency’s rally. US investment bank analysts said in a research note that based on historical cycles, the peak of the US dollar usually coincides with the bottom in indicators of US and global economic growth, and the easing of monetary policy by the Federal Reserve.

“Goldman Sachs” added: It seems that the dollar’s ​​summit will remain several quarters away. The Fed will not move to pursue an accommodative policy until 2024, and US economic growth will not reach the bottom soon. The bank indicated that the US dollar received support from the stable US economic activity and high inflation rates, despite the continuous interest rate hikes. The investment bank believes that the US economy is still witnessing better prospects compared to the situation in the euro area, as it is less sensitive to interest rate hikes, which supports the dollar.

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