A bank employee counts US dollars in Hanoi. Many countries and companies, especially in the developing world, borrow in dollars. Photo: EPA-EFE
A bank employee counts US dollars in Hanoi. Many countries and companies, especially in the developing world, borrow in dollars. Photo: EPA-EFE
Nicholas Spiro
Opinion

Opinion

Macroscope by Nicholas Spiro

Is the US dollar invincible, or just the best house in a bad neighbourhood?

  • Dollar strength has been a wrecking ball swinging through forex markets, buoyed by the Federal Reserve’s interest rate increases and severe problems facing other major economies
  • If the Fed were forced to cut rates – because the US enters recession or due to a threat to the global economy – the dollar would depreciate

A bank employee counts US dollars in Hanoi. Many countries and companies, especially in the developing world, borrow in dollars. Photo: EPA-EFE
A bank employee counts US dollars in Hanoi. Many countries and companies, especially in the developing world, borrow in dollars. Photo: EPA-EFE
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