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As per the latest analysis from Goldman Sachs, the bank remains comfortable with its optimistic global growth views for the year 2021. The same favor them to keep their bearish outlook for the US dollar.

The bank expects EUR/USD to gain traction from the currently 1.2070 towards 1.2500 by March and 1.2700 until June before reaching 1.2800 at the end of 2021.

It was also mentioned that  USD/JPY can ease from 103.87 presently to 103.00 till March and then to 102.00 by June ahead of revisiting the 100.00 threshold by December 2021.

It should be noted that the US bank also favors the Australian and Canadian dollars versus the US currency.