Goldman Sachs says US dollar rose on weekend developments, higher energy prices and equity sell‑off, affecting FX dynamics.
The bank remains bearish on the Philippine peso, Thai baht and Indian rupee due to energy import exposure and weak external balances.
G10 currencies saw Norwegian krone and Canadian dollar outperform, while euro and yen lagged; emerging markets rand and rupee followed similar trends.
Goldman Sachs warns terms‑of‑trade shifts and economic fallout will dominate FX moves, noting 2022 shock took longer to price in.