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LGT:预期未来12个月美元跌势持续 建议减持美元分散风险
Zhi Tong Cai Jing·2025-06-12 08:10

Group 1 - The core viewpoint is that LGT Royal Bank (Asia) remains bearish on the US dollar, expecting its decline to continue over the next 12 months due to various factors including the Trump administration's policies [1] - Despite the signing of a trade agreement between the US and China, concerns about the US economic cycle and fiscal situation persist, with the latest budget proposal reinforcing doubts about sustainable fiscal control [1] - The euro is seen as the best alternative to the dollar due to increased fiscal support from the EU, while the Australian dollar benefits from interest rate differentials and Chinese fiscal stimulus [1] Group 2 - LGT advises investors to approach the recent dollar sell-off cautiously, as the process of reducing dollar exposure to diversify risk is expected to be gradual [2] - Gold is highlighted as a long-term asset for risk diversification and inflation hedging, with a preference for buying during price corrections, particularly after trade or tariff tensions ease [2]