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Currencies

Goldman Sachs determines the fair value of currencies based on interest rate differentials and relative over or under valuation. Surpluses, delays for policies to take effect, and changes to tax codes can explain most of Germany's current account balance.

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GSDEER = Goldman Sachs opinion about “Fair value” follows interest rate differentials
Relative over/ under valuation Surplus, time delays for effectiveness and the tax code (changes) explain most of the German Current Account

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Currencies

  • 1.
    GSDEER = GoldmanSachs opinion about “Fair value” follows interest rate differentials
  • 2.
    Relative over/ undervaluation Surplus, time delays for effectiveness and the tax code (changes) explain most of the German Current Account