Goldman Sachs predicts widespread dollar decline
Tuesday – 12 months Spring of the first 1440 H – November 20, 2018 AD Issue number [
London: Middle East
LONDON (Reuters) – Goldman Sachs said yesterday that it expects a massive fall in the dollar next year as US economic growth slows down to match the global average.
Goldman said valuations mean that he has changed his pessimistic view of the Japanese yen, expecting growth in Latin American, Swedish, Canadian, Australian and New Zealand currencies.
“We expect several changes in the global economic environment, which together with several negative factors in the medium term indicate a downward trend, rather than an upward trend towards the dollar as a whole in 2019,” said Goldman Sachs in the 2019 Economic Outlook. .
This happens in tandem with a drop in gold prices yesterday, as investors made some profit after the metal gained more than four consecutive sessions last week, but prices received support from a weaker dollar as a result of Federal Reserve concerns about the global economy.
Top gold fell 0.1% to $ 1219.98 per ounce by 0745 GMT, after rising 0.7% at the previous session. Gold fell 0.3 percent to $ 1,219.6 an ounce.
The dollar lost about 0.5 percent in the previous session after Federal Reserve policies pointed to new increases in interest rates, while raising concerns about a possible global recession, raising doubts that the monetary tightening cycle did not last a long time.
Interest rates are expected to rise next month for the fourth time this year, and policymakers have suggested earlier that interest rates could be increased another two times by June 2019.