The Dollar Rules
Despite all economic and political turmoil in the United States, the greenback has appreciated to its strongest level in two decades as global investors have once again chosen it as their safe haven. Moreover, past experience suggests that it will remain overvalued until the US authorities decide that it needs to come back down.
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LONDON – The first half of 2022 has been traumatic. Equity markets have suffered one of their worst six-month periods ever. Government bonds are undergoing a rare, significant decline. And the world of cryptocurrencies has experienced the rude awakening that many had long predicted for it.