24.11.2008 - The world still runs on US dollar
From Btimes.com.my: Theory, with the US economy officially entering recession as its GDP contracted by 0.3 per cent QoQ in the 3Q2008, the US dollar (USD) should be weakening against other currencies in particular against those of the US major trading partners. Surprisingly, a barrage of grim economic news has failed to fret the USD. Since the breakout of what we would term as the second-round explosion of the global financial crisis in mid-September 2008, the USD has actually raced to multi-year highs against virtually all currencies with the exception of the Japanese yen (JPY) and to a certain extent, the Chinese yuan (CNY)..... Full Article: Source
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