Goldman: Dollar Gains as Energy Prices Rise

Goldman Sachs says the US dollar strengthened on Monday as energy prices rose and equities sold off after weekend events.
Among G10 currencies, the Norwegian krone and Canadian dollar outperformed while the euro and Japanese yen lagged; the rand and rupee showed relative strength in emerging markets.
The Hungarian forint appreciated after the opposition secured a two‑thirds parliamentary majority, paving the way for EU fund disbursement and Euro adoption.
Goldman estimates Brent at $103/bbl and European gas at €48/MWh, forecasting a 1.3‑percentage‑point drop in Hungary’s net energy balance by 2025, offset by EU grants (3% of GDP) and loans (1.8%) plus 2.5% GDP annual budget funds.