Goldman Pushes Back Against Pushback on Short-Dollar Call

Goldman Sachs Group Inc. is sticking to its guns in calling for the dollar to depreciate, despite criticism that its recommendation’s usefulness has come and gone.

Goldman advised shorting the dollar in early January, accounting for the Federal Reserve’s pivot away from steady gradual increases in the benchmark interest rate. While the greenback indeed dropped thereafter, it has rebounded this month as other central banks adopted less hawkish stances of their own. Goldman says the dollar will fall anew.