BRICS: Goldman Sachs Predicts US Dollar Will Experience a Boom
The BRICS alliance might not be able to deter the US dollar as Goldman Sachs predicts the currency could experience a tariff-fueled boom. Currency traders could make stellar profits if they take long positions on the USD, wrote the global investment bank. Tariffs from the Trump administration could bolster the appeal for the greenback leading to further gains, the note from the bank read. Also Read: Brazil Plans To Reject BRICS Currency If the US dollar continues its rise in the charts, BRICS will have a hard time safeguarding their respective local currencies. The development could derail the de-dollarization agenda and lead to the greenback strengthening further. The USD faced severe challenges from BRICS who were looking to dethrone it from the world’s reserve currency status. Also Read: De-Dollarization: Economist Predicts the Future of the US Dollar BRICS: Tariffs Could Fuel US Dollar Boom, Says Goldman Sachs Source: Reuters The escalating trade wars could benefit the US doll...