Goldman fund manager bearish on Aussie dollar

SINGAPORE: Goldman Sachs Asset Management is seeking to profit from the relative value of the world’s major currencies after trimming bets the dollar would climb versus the euro and yen.

While the Federal Reserve will probably increase interest rates by another 25 basis points later in the year, any disappointment around US employment data could delay the next move to 2017, dimming the allure of the greenback, said Philip Moffitt, Goldman Sachs Asset Management’s Asia-Pacific head of fixed income.