Business
The US dollar has Wall Street baffled – The Sydney Morning Herald
Wondering where the dollar’s headed as the US deficit keeps growing? Wall Street’s also trying to figure it out.
Pandl holds a structurally negative view on the dollar over the next three years. Goldman expects the current-account deficit to peak at 4.4 per cent of gross domestic product in late 2021. Thats more than the median estimate of forecasters, who believe it will climb to 3.6 per cent of GDP this year, up from 3.09 per cent at the end of last year and the largest since 2008.
If Goldmans view on the greenback is right, it would suggest that its only a matter of time before foreign investors seek higher-yielding…
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