Major bank: Australian dollar won’t get far

Monday 26 August 2024

Goldman addresses the freefalling DXY.

USD: Cut but don’t run. The time for cuts has come, and FX markets clearly see that as a time to short the Dollar.

It is understandable because the Dollar starts from a position of being highly valued, and because the Fed can and may adjust real rates faster than other central banks.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.