The Goldman Sachs analysts, in their latest client note, have drawn parallels with the macro environment facing the US dollar today and in the 1980s.
Key Quotes:
“Current US-China trade tensions compared with similar US-Japan in the 80s.
Fading fiscal stimulus, more accommodative monetary policy likely to lead to US dollar fall.
Foresee a “choppy dollar downside in the months ahead”.
See USD/CNY above 7 in the next three months.
See near-term strength for EUR and JPY.”
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