Goldman Says Now's the Time for a Risky Currency Bet—But It Failed Spectacularly Two Years Ago

Goldman Sachs is recommending a bet that the yen will fall against the dollar. The idea: borrow cheap yen and invest elsewhere for higher returns. The bank says conditions are ideal. But it made the same call before July 2024, when the trade blew up, spreading losses worldwide and tanking stock prices. Those underlying problems haven't been fixed.