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That's a reversal from the recent uptick. Traditionally a safe bet amid economic mayhem, the dollar climbed about 25% against the euro in the eight months to March this year; the unattractiveness of rival currencies only made it more appealing. But, says Derrick, "that drive seems to be shifting substantially." Sure, a hint of bleak economic data can still goose the greenback - the prospect of poor U.S. payroll figures for June, set for release Thursday, has helped boost the currency in recent days - but optimism in other assets is on the rise. Global equity markets, in particular those...
...Federal Reserve could simply resort to printing more money, further flooding the markets with dollars. While the central bank said on June 24 that it had no plans to expand its purchase of government or mortgage bonds beyond the $1.2 trillion earmarked for the purpose in March, not everyone is convinced. "There is always the nagging concern that if this is just a dead cat bounce in the equity markets and we have a further rocky ride in the second half of this year," says Derrick, "then a second round of fiscal spending programs may have to be introduced." (Read...
Bottom line: the dollar faces a longer-term challenge, and the big players know it. Echoing a call made by Zhou Xiaochuan, its governor, in March, China's central bank advocated a new global reserve currency in its annual financial-stability report released last Friday. Raising concerns of a move away from the dollar as the world's reserve, the proposal for a "super-sovereign" coin nudged down the greenback vs. a host of major currencies. That may have been a tad more impact than Zhou was seeking: with something like two-thirds of China's roughly $2 trillion...
...that in some cases Iranian reporters "make mistakes, become emotional and greedy and fall into the trap of foreigners." The news report fails to mention that Bahari is actually in detention. So far, he has not been charged with any crime. (Watch TIME's video "An Iranian Protest March in Paris...
...talks, but their proposed incentives for Iran to stop its nuclear activities have so far been spurned by Iranian negotiators. If the E.U. hardens its stance, however, it may extinguish any lingering chance of a diplomatic solution to Iran's nuclear ambitions. (Watch TIME's video: "An Iranian Protest March in Paris...