A Closer Look at the Dollar Rally

August 9, 2008

Bloomberg is reporting Euro Falls the Most in 8 Years on Reduced Bets for Higher Rate.

"This is the beginning of a new chapter for the dollar as Trichet and other central banks are paying more attention to the downside risk to growth," said Dustin Reid, a senior currency strategist at ABN Amro Bank NV in Chicago. "The decline of oil prices is a significant driver behind this dollar rally because it enables other central banks to turn their eyes away from inflation and focus on growth."

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