Dollar Sends Warning That U.S. Is Losing Its Grip on the Virus [View all]
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Source: Bloomberg
The dollar is flashing a warning sign to U.S. policy makers -- get a grip on the virus.
After hitting an all-time high in March, a gauge of the greenback lost 10% of its value, with declines accelerating in recent weeks as infections spread seemingly unchecked across the nation. Much of the sell-off has come during New York trading hours, suggesting domestic investors are closing out bets on U.S. strength and spurring renewed questions about the supremacy of the dollar. Meanwhile, a popular model that’s guided dollar traders for the past two decades has warped.
Read more: https://www.msn.com/en-us/finance/markets/dollar-e2-80-99s-slide-is-a-warning-that-us-has-lost-grip-on-virus/ar-BB17uloo
The other shoe is wobbly and wants to drop. With the debt pushing pass 25 Trillion and Trillions more that has to be spent soon because of the government bungling of the CV-19 crisis, if/when the day comes that the greenback is no longer the World's default Currency, that will make whatever disaster the country is going through now seem like cupcakes the day that happens. Biden has a Mt Kilimanjaro Crisis to face when he is elected.
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