US Dollar Heads to Bottom

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The dollar lost another 0.7% today, continuing its downwards trend that nears 2018 lows. The currency has fallen by some 13% in its strength index since March, down from 102 to now less than 89. It has lost significant value against many currencies, including the euro and even the brexit ravaged pound. Swedish krona has gained the most on a tight monetary policy, as has the Chinese yuan which has gained some 10% against the dollar. Losers at the bottom are gallopingly inflating Argentina and speculatively attacked Turkey, with the Brazilian real losing significantly too. Switzerland however has been the second biggest gainer and that has worried their central bank considerably, intervening to temper the safe haven money by the stock traded central bank. That led America to call them a currency manipulator, arguing the Swiss central bank intervention this year has amounted to 14% of their GDP. This has…

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