Quote:
Greenback at two-year high, as growing confidence in U.S. recovery meets expectations of new emergency measures to rescue Eurozone.
It’s a long time since anyone referred to ‘the almighty dollar’ anything but ironically, but the greenback is staging its most dramatic rally since in six years.
The U.S. Dollar Index, which measures the buck against six major western currencies but not against emerging market currencies such as China’s yuan, has risen 7.1% in the third quarter, its biggest quarterly rise since the 2008 market panic.
And despite frequent reports of its demise, the world’s premier reserve currency is also at seven-month highs against Brazil’s real and Mexico’s peso, and near a six-month high against India’s rupee. The only major trading partner it isn’t strengthening against is the yuan, partly because of weaker demand for commodities (which are priced in dollars) from a slowing Chinese industrials sector.
http://fortune.com/2014/09/25/dollar...separate-ways/
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