Goldman Sachs recommends to buy euro
Talking about whether to buy the euro or the U.S. dollar, Goldman Sachs (NYSE:GS) let be known what currency should be acquired, and that is the euro. They're probably right, as the underlying fundamentals of the U.S. dollar haven't changed, and only concerns over the Greek sovereign debt issue gave some temporary strength, based on the fall of the euro rather than something in herent in the dollar.
Most of this is based on short term emphasis and possible events, rather than long term investment suggestions.
Goldman believes the U.S. dollar will revert to its weakened condition, while in the short term the euro should have some nice upside surprises in store.
One of the more unprecedented turnarounds for the U.S dollar came when almost everyone was bullish on it until the Greek crisis and its effect on the euro, now that it has passed and Europe in general is supporting Greece, the dollar has nothing to make it keep its strength, while for now, the euro does.
Goldman acknowledges things could get stirred up in Europe again, but for now, the crisis have been avoided.
Goldman Sachs recommends to buy euro
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