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Goldman Joins Wall Street Chorus Warning About Possible U.S. FX Intervention

  • Action to weaken the dollar is a ‘low but rising risk’
  • Analysts contemplate U.S. dollar sales as Trump targets FX
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Photographer: Sanjit Das/Bloomberg

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The buzz around possible U.S. currency intervention is growing louder as Goldman Sachs Group Inc. has now weighed in on an idea that’s been making the rounds on Wall Street.

President Donald Trump’s repeated complaints about other countries’ foreign-exchange practices have “brought U.S. currency policy back into the forefront for investors,” strategist Michael Cahill wrote in a note Thursday. Against a fraught trade backdrop that’s created the perception that “anything is possible,” the risk of the U.S. acting to cheapen the dollar is climbing, he said.