Why I don't like currency stories
I will admit it--I don't like currency stories. The dollar is up, it's bad news. The dollar is down, it's bad news.
Case in point--the story on page C1 in today's WSJ. The headline is "No (Dollar) Gain Without Pain", putting a negative spin on the currency rise, including the possibility that it could "threaten economic growth."
Of course, if the dollar had fallen, everyone would be writing negative stories about how a weak dollar reflected the weakness of the U.S. economy.
My take: Currency movements help some people, and hurt others. Maybe we shouldn't be calling the dollar "strong" and "weak". Any suggestions for new terms?