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Posted at 9:40am on Nov. 7, 2007 The Dollar is Now the World's Most Hated Currency
America's Newest Export Is Inflation
By blackhedd
The US dollar is in a full-fledged rout. It's trading at historic lows against every major currency except the Japanese yen, and against a raft of minor currencies as well. Dollar-prices for commodities like oil and gold are at record highs.
Dollar weakness is an expected consequence of the Federal Reserve's two recent cuts in its benchmark short-term interest rate. But dollar sentiment around the world has become extraordinarily negative over the past week or so, and people are starting to pile on.
Is this behavior normal? Or is something new and different going on?
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