In a twist few predicted, the rush away from risky assets has actually been good for the dollar - even though the U.S. needs to borrow $2 billion a day from its creditors overseas just to keep the lights on, and has been adding to its already substantial obligations at a rapid clip.
Sunday, October 12, 2008
Why the greenback is on a tear
I was caught by surprise myself at the strength of the dollar, but as the article later alludes, the dollar's prospects long-term are another story...
In a twist few predicted, the rush away from risky assets has actually been good for the dollar - even though the U.S. needs to borrow $2 billion a day from its creditors overseas just to keep the lights on, and has been adding to its already substantial obligations at a rapid clip.
In a twist few predicted, the rush away from risky assets has actually been good for the dollar - even though the U.S. needs to borrow $2 billion a day from its creditors overseas just to keep the lights on, and has been adding to its already substantial obligations at a rapid clip.
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