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Goldman Sachs sees broad dollar decline next year

Goldman Sachs sees broad dollar decline next year
FILE PHOTO: The Goldman Sachs company logo at the New York Stock Exchange, April 17, 2018. REUTERS/Brendan McDermid/File Photo   -   Copyright  Brendan McDermid(Reuters)
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LONDON (Reuters) – Investment bank Goldman Sachs said on Monday it expected a broad fall in the dollar next year as U.S. economic growth slows to be more in line with the global average.

Goldman said the view meant it had revised it long-standing bearish view on the Japanese yen and tipped Latin American currencies, the Swedish krona, Canadian, Australian, and New Zealand dollars and Israeli shekel to rise.

“We see several changes to the global economic backdrop which, combined with a few negative medium-run factors, point to more downside than upside to the broad dollar in 2019,” Goldman said in a macroeconomic outlook report for 2019.

(Reporting by Marc Jones; editing by Helen Reid)

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