Expert: Dollar to reach parity with euro
One factor that European and other markets are going to have to prepare for is the emerging strength of the US dollar, according to Peter Oppenheimer, the chief global equity strategist at Goldman Sachs.
At the recent Warsaw Capital Market Summit 2014, he said that over the course of this year there has been quite a lot of dollar strength against a number of different currencies, particularly of course the yen and the euro.
“Many people ask, ‘has it got farther to go?’ We think it has got farther to go, because this rise in the dollar is really just beginning. If you look back to 1980 at the US dollar versus a basket of major currencies, you can see really the dollar has been in a downward trend for the last 30 years. There have been some exceptions. It did very well in the late 1990s, for example, but generally it has been trending downward. The recent rises we have seen are only really just beginning,” Oppenheimer said.
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(Photo: Patrick Houette)