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QuoteDislikedThe release comes a day after the IMF warned that the dollar was still overvalued and likely to face "some depreciation in the medium term".
QuoteDislikedThe US requires $70bn a month in capital inflows to cover its current account deficit, but the key sources of finance are drying up one by one.
BNP Paribas said America has relied on "hot money" from abroad to cover 25pc to 30pc of the US short-term credit and commercial paper market over the last two years.
This flow is now in danger after the seizure in parts of the market over the summer and after the Federal Reserve's half point rate cut, which has shaved the US yield advantage over other countries.
Ian Stannard, a Paribas currency analyst, said the data was "extremely negative" for the dollar. "It exceeds the worst fears. It is not just foreigners who are selling US assets. Americans are turning their back as well," he said.
DislikedIt's been too long since we have had a Bravado style Cha-chin around here, and since my stocks are doing good and I sold my Google, here goes.
CHA CHING
http://farm3.static.flickr.com/2164/...bfbe01ba4b.jpgIgnored
DislikedImagine the situation when the Americans dont trust their own currencyIgnored
DislikedImagine the situation when the Americans dont trust their own currencyIgnored
DislikedDont under estimate them mate.. They just need to find.... this..
http://imagecache2.allposters.com/im...re-Posters.jpgIgnored
Dislikedit didn't really dropped from nowhere it was over bought long time now it was about a time to make that correction ..... it hit the R piont and every body was selling try to get out !Ignored