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Goldman Says to Bet on Weaker U.S. Dollar After Powell Comments

  • Fed chairman’s data dependency hints rates may be put on hold
  • Strategists target levels on the greenback last seen in May
Currency At The Bureau Of Engraving And Printing
Photographer: Andrew Harrer/Bloomberg

The U.S. dollar may be poised to decline, according to Goldman Sachs Group Inc.

Comments from Federal Reserve Chairman Jerome Powell on Friday boosted the chances that the central bank will pause interest-rate increases, strategists at Goldman wrote in a note Saturday. Powell cited the events of 2016, when rates were kept unchanged through most of the year due to concerns about slowing growth in China. The potential hold presents a chance for the greenback to drop.