Dollar crisis? Think again

For months, Bank of America has been arguing for the long-term sustainability of the US current account deficits, and the intellectual and analytical fallacy of using the twin deficits argument to punish the US dollar.

We stressed the structural aspects of the deficits, which should not be mixed with the cyclical facets, to argue for a weaker dollar. We seemed to stand alone.

However, our view is now gaining support among academics and some of our competitors. A recent National Bureau of

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact customer services -, or view our subscription options here:

You are currently unable to copy this content. Please contact [email protected] to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to FX Markets? View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a FX Markets account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: