Posted 11/10/2023, 10:00:00 PM
Goldman Sachs Forecasts US Dollar Decline in 2024 Despite Near-Term Strength
- Goldman Sachs sees the US dollar declining in 2024 but remaining supported by a resilient US economy and high yields
- The dollar is still up 1.6% in 2023 after slipping from highs last month, on track for a third straight annual gain
- Goldman expects a shallower dollar downturn compared to the 1980s, with risks of it remaining strong if other economies struggle
- Euro faces challenges rising to $1.10 as higher energy prices weigh; yen to fall further on disappointment over Japan's policy normalization
- Goldman sees limited upside for the British pound as the Bank of England hesitates on rate hikes; forecasts it falling to $1.18