Central banks are accelerating their shift away from the US dollar, a move that has gained traction over the past decade and shows no sign of slowing. “We believe the diversification away from dollar should persist, as this trend has been well entrenched for the past decade,” the Goldman Sachs strategists wrote.
The momentum intensified following the 2022 sanctions on Russia, when Washington froze Moscow’s dollar reserves and cut it off from the global financial system. Those events rattled confidence in the greenback’s reliability, and concerns have only deepened amid Trump’s policies, which threaten to disrupt global trade and economic stability. In response, central banks have also been building up gold holdings, supporting demand for the precious metal.Still, the dollar retains its roleas the primary reserve currency and the standard for pricing key commodities like oil
According to the strategists, the dollar is still about 17% overvalued based on Goldman’s valuation models
“We anticipate a rotation to other global assets, of which Asian assets could be a subset” South Korea, Singapore and China's currencies are likely to be the biggest Asian beneficiaries---
Summary of a Bloomberg piece citing GS.
This article was written by Eamonn Sheridan at www.forexlive.com.Hence then, the article about its not just gold goldman sachs says asian currencies to benefit from usd losing status was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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