The DOLLAR will be strong for a long time primarily because of the plans of the newly elected American President Donald Trump to introduce high tariffs, said today the strategists of the American banking corporation Goldman Sachs.
The US currency has been rising since the end of September, which had the effect of correcting the New York bank’s long-standing position that the dollar would gradually fall from its peak, Bloomberg reported.
– We no longer expect a more extensive depreciation of the dollar, because it will be stronger for a longer period, the Goldman team wrote.
The bank’s predictions for the past two years were that the US currency would fall from its highs, but this has been thwarted by a 2.4 percent rise in the dollar since the Nov. 5 election.
Bloomberg notes that the US currency completed its seventh consecutive week of gains, the longest period since February, and is a reaction to Trump’s election as president and his plans to strengthen the dollar and introduce higher budget revenues.
As optimistic as strategists are regarding the dollar, their predictions still see it below 2022 levels.
(Tanjug)
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Source: www.novosti.rs
