Goldman Sachs' chief Asia-Pacific economist: The dollar is expected to depreciate further

Andrew Tilton, chief Asia-Pacific economist at Goldman Sachs Group, said of the outlook for the dollar that he expected "further dollar depreciation", as the dollar remains about 15 per cent overvalued against its long-term fair value according to Goldman's exchange rate model. "We also see signs that foreign investors may be allocating at least a little less to the US, which is also net against the dollar," Mr. Tilton added, noting that US policymakers also appeared to want a weaker dollar.