Blow to De-Dollarization: Goldman Sachs Says USD Will Remain
The de-dollarization may face its eventual demise in the near future. There is no doubt that there has been a growing sentiment against the US dollar over the last few years. China and other developing nations have expressed a growing desire to use local currencies for mutual trade. While the dollar’s position has faced substantial barriers, replacing the greenback may not be a realistic future. In a recent report, Goldman Sachs has shed more light on the dollar’s supposed decline. US Dollar Dominance Declining, But Will Reign Supreme Source: Cloudfront According to Gurpreet Garewal, macro strategist at Goldman Sachs, US stocks have recovered from the tariff dip. US stocks not just reclaimed, but have gone higher than pre-tariff prices. The US dollar, on the other hand, does not follow the same pattern. Garewal highlights the growing sentiment that the dollar may be overvalued at the moment. The strategist believes this narrative is overstated. Garewal states, “ The do...