Citi sees a number of parallels, both in terms of the background dynamics and the course of events, seen throughout the 1990s and more recently over the past 7 years. As Tom Fitzpatrick notes, these similarities are not confined to the US economy but incorporate developments on a global scale and stringly support their view that the US dollar should rally for about another two years. US – 1989-1991: The US housing boom ended with the savings and loans crisis which in turn led to a severe recession. The Fed cut rates and the USD continued lower – 2005-2007: US housing boom came to an end as over lending could no ... (full story)