Thursday, September 18, 2008

Strong Dollar

Feels nice when you observe something and the experts catch up later, doesn't it? This is from Financial Times dated 17.Sep.2008 (see my post on 17.Sep.2008):

One of the most extraordinary features of the past month is the extent to which the dollar has remained immune to a once-in-a-lifetime financial crisis. If the US were an emerging market country, its exchange rate would be plummeting and interest rates on government debt would be soaring. Instead, the dollar has actually strengthened modestly, while interest rates on three- month US Treasury Bills have now reached 54-year lows. It is almost as if the more the US messes up, the more the world loves it.

For the complete article go here.

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