Goldman sees further gains in US$ despite bad 2017 start

Singapore

THE dollar's worst start to the year in more than a decade is just a blip on its path to further gains, according to Goldman Sachs Asset Management, which oversees more than US$1 trillion.

The money manager is betting on the greenback and a steeper yield curve as a reflationary era takes hold in the US and other countries, said Philip Moffitt, the Sydney-based Asia-Pacific head of fixed income. The dollar will continue to strengthen against the euro and yen as policymakers in Europe and Japan maintain quanti…