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Published on Gold Anti-Trust Action Committee (http://www.gata.org)

Dollar's weakness unsettles central bankers

By cpowell
Created 2018-01-17 14:21

All they have to do is rig gold down some more.

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By Roger Blitz
Financial Times
Wednesday, January 17, 2018

The persistent weakness of the U.S. dollar is forcing global central bankers to step up their efforts in warning about the cost of currency appreciation on their economies.

The dollar's decline has extended into 2018, with the index measuring the currency against its leading peers touching a three-year low. The decline in the global reserve currency matters greatly for other economies that have rebounded thanks to stronger exports, such as Europe and Japan.

The euro, which rose by as much as 2.7 percent since the start of the year, dropped sharply from an intraday high of $1.2322 today after Vitor Constancio, European Central Bank vice president, became the latest policymaker to take issue with the single currency's sharp rise against the dollar.

"I am concerned about sudden movements [in the euro] which don't reflect changes in fundamentals," he said.

Ewald Nowotny, fellow ECB member, added that the euro’s rise was "not helpful." The euro was trading 0.4 percent lower today. ...

... For the remainder of the report:

https://www.ft.com/content/23dbe094-fb79-11e7-9b32-d7d59aace167 [1]



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