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America's currency confusion

US currency comments may appear innocent and innocuous, but that is often not so as they hurt America's ability to persuade others to practise verbal self-restraint.

Higher US growth and interest rates may sustain dollar demand and weaken foreign currencies, widening the US current account deficit.


FOR MORE than two decades, American administrations, both Democratic and Republican, have followed the same currency playbook. They backed free floating, especially for the US, Europe and Japan, without intervention. They pressed G-3 officials not to comment on currency market...

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