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Politics : Dutch Central Bank Sale Announcement Imminent?
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To: sea_urchin who wrote (24378)5/24/2006 12:04:56 PM
From: philv  Read Replies (2) of 81164
 
OECD warns rebalancing of US deficit may drive dollar down sharply

-It seems that everyone is surprised at the extent of US debt imbalance, so we are in good company.

" Already, the widening of current account imbalances has been sustained far longer and with much smaller exchange rate responses than would have been judged plausible even a decade ago, it said. "

" LONDON (AFX) - The OECD has warned that the eventual rebalancing of the US current account gap 'looks increasingly unavoidable' and will send shock waves across the globe, starting with a slump in the dollar's exchange rate.

The OECD said in its world economic outlook that the depreciation faced by the dollar could be 'of the order of one-third to one-half.' "

-But of course we have heard this kind of warning for years, but all the while, reality moves the opposite way.

Full article:

forbes.com
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