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- Divine intervention
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Under the right conditions, currency intervention can work. So is it time to support the dollar?THE dollar’s steep drop this year has triggered speculation that central banks may soon intervene in the foreign-exchange markets to prop up the sickly currency. It will surely be discussed, if sotto voce, at the next G7 meeting on April 11th. Policymakers have already embarked on verbal intervention. Jean-Claude Trichet, the president of the European Central Bank (ECB), has said he is ?concerned” by the euro’s climb against the dollar; European Union leaders at a summit in Brussels on March 14th said ?disorderly? currency moves are ?unwelcome?; and Fukushiro Nukaga, Japan’s finance minister, has called the dollar’s decline ?excessive?. Such talk has helped the greenback to rebound from a 12-year low of YEN96 and an all-time low of $1.59 to the euro on March 17th. But can policymakers put their money where their mouths are? …
Original Source
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27 Marzo, 2008| massmedia |
@ 14:45