The latest commentary is one that carries over from their previous one in May here. In cutting straight to the chase, Goldman Sachs points to two key structural drivers in continuing to cement the dollar weakness in the bigger picture.One being portfolio hedging flows, in which they see erosion of institutional independence in the US has reduced investor appetite for dollar-denominated assets. In turn, that is helping to bolster hedging demand as investors want to diversify their portfolio away from the greenback. As such, these flows will act as a sustained headwind for the dollar so long as the policy path in Washington continues to stay the course.The other driver pointed out is China's policy approach to the yuan currency. Goldman Sachs argues that recent changes point to Beijing wanting a more stable yuan, one that promotes a greater global role for the currency. The firm notes that as the yuan continues to be preferred as a regional anchor and benchmark, that will eventually lead to broader FX implications.In that sense, Goldman Sachs is highlighting that these adjustment flows has to happen beyond Europe in order for the dollar weakness to persist for longer. And with China's increasing presence and role to fill that space, it opens up the pathway for the greenback to slide further. This article was written by Justin Low at investinglive.com.