“Goldman Sachs was forced out of three of its top picks for the year last month: a bet on large U.S. banks against the Standard & Poor’s 500 Index, a wager on 10-year break-evens, and a call on the Mexican peso and Russian ruble strengthening versus the South African rand and Chilean peso. The latter closed on Jan. 21 for a potential loss of 6.6%,” according to the report.
The New York-based bank closed its call for dollar strength versus an equally weighted basket of the euro and yen on Tuesday, recording a potential loss of about 5%. Goldman Sachs also ended a bet on five-year forward Italian sovereign yields versus their German counterparts for a loss of about 0.5%, according to Bloomberg.
Read alsoJ.P. Morgan slashes its 2016 crude forecast to $31.50In November 2015, Goldman Sachs put the Russian ruble into a basket of the most attractive foreign currencies and assets for 2016. The analysts believed that the ruble, along with the Mexican peso, could show significant results in the upcoming year.
