Vital Signs for the Week of Nov. 22
The dollar is dipping again. After falling against major currencies such as the euro, yen, and Canadian dollar in 2002 and 2003, the greenback stabilized this year. However, trade deficits now topping $50 billion and scant sign that the Federal government will reign in spending have renewed the downward pressure on the U.S. currency. Since the end of July, the Federal Reserve's broad trade-weighted dollar index, which covers 26 different currencies, has fallen 4.9%. If the basket is narrowed to just seven major currencies, the change is a steeper 7.4%.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.