Dollar correction: all pain, little gain
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The US dollar may have weakened considerably recently, but US exports may not benefit, says Stephen Jen, chief currency economist at Morgan Stanley in London
The dollar descent so far this year has had a negative effect on dollar assets, as capital flows have turned against the US. But it has had limited effects on the US’s real economy. While the dollar has depreciated sharply against the euro and yen, the broad dollar index, which matters for trade and therefore the real economy, has
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