Goldman: the dollar will continue to strengthen due to the lack of alternatives

Investment bank Goldman Sachs sees the dollar strengthening due to the lack of an attractive alternative to it among other currencies, writes Business Insider.

The fall of the dollar is limited by the steady growth of the US economy until the end of the year.

While the bank predicts that in the near future the US currency will have even more opportunities for growth, the market assumes the market.

After the May 4 low, the dollar gained just over 3% amid debt ceiling tensions in Washington. The reason for the strengthening of the dollar is that the US economy is holding up very well compared to other economies, according to bank experts. The deterioration in credit in the US did not happen as much and not as fast as initially feared.

But the main thing is that in the world today there is no serious contender for the reserve status of the dollar, including from the euro.

All of this means that the US dollar will continue to rise through the end of the year, especially as the euro shows more signs of weakening, moving away from the key 1.10 resistance level against the dollar.