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Goldman Sachs Research expects the US dollar to hold its 2024 gains and stay at roughly the same level against G10 peers over the next 12 months. The forecast cites continued US growth and limited global macro divergence.
Analysts expect any erosion in dollar valuation to be gradual.
A persistently strong dollar keeps dollar-priced feed and grain imports expensive for non-US buyers. The forecast implies no near-term relief from currency-driven pressure.
goldmansachs.comJun 6, 2024After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
