Oct 12, 2020

Biden bets are on as the election day approaches

An article from Bloomberg in the morning says Goldman also joins UBS & Invesco predicting a weaker dollar. The ICE U.S. Dollar Index has fallen more than 3% so far this year — trading just over the 93 level on Monday — as investors reacted to unprecedented pandemic-related monetary stimulus from the Federal Reserve and rock-bottom interest rates. The gauge traded below 89 in 2018, a level which would imply a further slide of more than 4%.

The strategists also suggest buying the euro, Canadian and Australian dollars against the greenback. The firm is keeping open long recommendations for the yuan through unhedged Chinese government bonds.

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