Goldman Sachs lowers its expectations for the US dollar after the Federal Reserve's massive interest rate cuts

Odaily Planet Daily News: After the Federal Reserve significantly lowered interest rates, Goldman Sachs predicts that the US dollar will gradually weaken as yields lose their attractiveness. Goldman Sachs has instead raised its forecasts for several major currencies, including the euro, pound, and yen. Kamakshya Trivedi and other Goldman Sachs strategists wrote in a report, "We still believe that the overvaluation of the US dollar will not be eroded quickly or easily, but the threshold has been lowered to some extent." Based on the latest forecast for the US dollar, Goldman Sachs, which has been bullish on the pound since the beginning of the year, now expects the pound to reach 1.40 against the US dollar within 12 months, higher than the previously thought of 1.32. This is the first time since 2021 that the outlook has reached this level and is also among the highest predictions on Wall Street. (Golden Ten)