...because you never know - until you do!
-
Surging US Dollar Stirs Markets Buzz of a 1980s-Style Plaza Accord
The dollar’s skyrocketing rise has some contemplating a rare, if not unthinkable, action: major nations agreeing to manipulate the US currency until it falls.It has happened before — most notably with 1985’s Plaza Accord — which took place against a backdrop of soaring inflation, an aggressive Federal Reserve rate-hike campaign and surging dollar. In other words, a scene that looks a lot like today — a parallel that won’t be lost on Group-of-Seven finance ministers and central bank governors as they meet this week. Demand for the greenback has been relentless this year, the result of interest rates rising ... (full story)