0516 GMT - The U.S. dollar is likely to strengthen more against Asian currencies in 2025, five members of Goldman Sachs' economics research say in a report. The "sharpest" move higher in dollar versus Asian currencies is expected to be "front-loaded on tariff risks, continued U.S. exceptionalism and still positive rate differentials between the USD and low-yield Asian markets," they say. China will probably bear the brunt of U.S. tariffs, and a 20% increase in the effective tariff rate on Chinese imports could shave 0.7 percentage point off China's GDP growth, they say. Under this scenario, USD/CNY could rise toward 7.4000-7.5000, they add. USD/CNY is 0.1% higher at 7.2367. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
November 18, 2024 00:16 ET (05:16 GMT)
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