Here it comes folks; the economic sqeaze play, we have been expecting.
I wouldn't be planning any overseas travel. The dollar isn't going to be worth fish wrap, by the time Junior is through mucking everything up, and the rest of the world is through with us, as a result.
Dollar starts the big slide against major currencies - Sunday Times - Times Online:
"THE dollar has embarked on a big decline that will see it fall against all leading currencies, according to analysts.
The plunge is being prompted by America's $800 billion (L438 billion) current-account deficit, they say.
The dollar has been under pressure following last weekend's meeting of G7 finance ministers and central bankers, which emphasised 'global imbalances' and said currencies should reflect economic fundamentals. Then China raised its key interest rate to 5.85%, its first hike for months, and Ben Bernanke, the new Federal Reserve chairman, hinted that American rates would pause at 5% after a rise in May.
Analysts say that without interest-rate support, the dollar will be weighed down heavily by America's imbalances. "
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