Goldman Sachs' chief Asia Pacific economist: the US dollar is expected to further depreciate.

Andrew Tilton, chief Asia-Pacific economist at Goldman Sachs, discussed the outlook for the US dollar, predicting that "the dollar will continue to depreciate" because according to Goldman's exchange rate model, the dollar is still overvalued by about 15% compared to its long-term fair value. "We also see signs that foreign investors may slightly reduce their investment allocation to the US to some extent, which also weighs on the dollar," Tilton added. He also pointed out that US policymakers also seem to want a weaker dollar. Tilton mentioned that Asian countries are facing pressure for their currencies to appreciate and for central banks to reduce market intervention, which could be a key point in discussions between the US and Asian countries on trade issues.