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.

Will anyone tell me why is the dollar appreciating?

Wall Street is in a state of turmoil.
Unemployment rates in US are on the rise (HP has today announced a downsizing of 25,000 odd employees).
And if the value of currency is determined in open market, will someone tell me who is upbeat about the US economy? And why?

PS: I did get the answer to this one. See Why is Dollar Appreciating?
Later on, the main stream media caught up. What fun!