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Goldman Sachs sees a weaker USD

According to Goldman Sachs strategists, the Fed surprise last week has removed one potential catalyst for US dollar strength. In line with this view, strategists expect EUR/USD to trade at $1.3800, and GBP/USD – at $1.6800 by the year-end. 

"We now expect tapering to start in December with $10bn. More importantly from an FX point of view, however, is the strengthened forward guidance.Even with tapering in some form, it is therefore difficult to see how the Dollar can get a boost from the monetary policy that is expected to stay loose," GS adds. 

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