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Economics

Dollar Becomes the Awkward VIP Guest at Global Finance Meetings

  • Strengthening US currency has deepened challenges for many
  • IMF chief captures zeitgeist in recognizing US inflation focus
Chinese Yuan, Hong Kong Dollar and U.S. Dollar Banknotes
Photographer: Paul Yeung/Bloomberg
Updated on

The supercharged dollar is almost everyone’s problem -- but it’s the one challenge that the masters of the global economy can’t directly address.

The US currency has soared almost 15% this year, on course for the biggest gain since the early 1980s. Nations across Asia and Latin America have been tapping their foreign reserves in an effort to shore up their currencies, prompting a caution from the IMF about the need to be prudent and preserve resources for potentially worse turmoil to come.