Bond Outlook [by bridport & cie, August 13th 2008]
The recent strengthening of the USD is supposed to be the result of both light trading volumes and also of an atmosphere reflecting the idea that the US economy is in a poor shape, but so is everyone else’s. There may also be an element of reversal of the phenomenon of commodity prices rising as the USD fell. These explanations seem, however, rather inadequate reasons to suppose a fundamental change in the outlook for the US economy and currency. |
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