A strong dollar not a 'good news' for all

Washington

IT'S a really good time to own wads of crisp, green American cash. As President Barack Obama boasted during his State of the Union address last week, the US economy is back. The job market is growing at a pace unseen in 15 years. The unemployment rate is lower than it was before the financial crisis hit. The Federal Reserve could - at last - raise interest rates from rock-bottom levels this year or the next.

As the man said: "This is good news, people." And it has investors across the globe rushing to stash their money in the United States, giving the dollar more muscle. The greenback is up an average of 15 per cent against other major currencies since July. Over that time, it's gained 16 per cent against the euro and 15 per cent against the yen.