Goldman, Citi See Dollar Sliding In 2021, Plunging As Much As 20%
Mon, 11/16/2020 – 11:25
Wall Street latest top consensus trade for 2021 has quickly emerged as a dollar short. After Deutsche Bank flip-flopped on its view for the dollar, first closing out its long-running dollar short then reversing itself just days later and renewing its USD short , other banks have joined the bandwagon expecting a major drop in the world’s reserve currency in the coming year.
In a Friday note from Goldman’s chief FX strategist Zach Pandal, he predicts that “depreciation in the broad Dollar can continue in 2021” and writes that his USD cross forecasts translate into a 6% decline in the broad trade-weighted Dollar index over the next 12 months, and a “sustained but orderly” 15% real depreciation from its 2020 peak to the end of 2024.
Join our Telegram channels
- All Headlines: t.me/LiquidaryNewsRoom
- Finance Headlines: t.me/LiquidaryFinance
- Liquidary Insiders: t.me/LiquidaryInsiders
- Crypto Headlines: t.me/LiquidaryCrypto
- Politics Headlines: t.me/LiquidaryPolitics
Join our Telegram group ➡️ t.me/Liquidary
Follow us Twitter ➡️ twitter.com/liquidary
Find the full article here