Dollar dives deeper
MARKET VOICE
While the dollar has managed to recoup some of its recent losses, the negatives still outweigh the positives, says David Mozina (right), director of global FX & FI research, Bank of America in New York
For the past few years, the US has been able to sustain a growing current account deficit, withstand unfavourable interest rate differentials and pretend that, just maybe, what we were seeing in the equity markets was not a technology bubble, but a paradigm shift called the New Economy
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