The United States' current-account deficit reached 5.7% of GDP in the second quarter of 2004. Yet the dollar remains at a relatively high value: less than 20% below its early 2001 highs and more than 10% higher in real terms than in the early to mid-1990's.
The United States' current-account deficit reached 5.7% of GDP in the second quarter of 2004. Yet the dollar remains at a relatively high value: less than 20% below its early 2001 highs and more than 10% higher in real terms than in the early to mid-1990's.