Monday, November 22, 2004

UBS FX report

Received from one of our correspondents, this UBS report is skeptical of the Bretton Woods II hypothesis. There is quite a lot of interesting data on the US balance of trade, historical FX rates, etc.

The conclusion is similar to my own view - the Asian dollar bloc will persist for a year or two at least, with the euro bearing the brunt of dollar depreciation pressure.

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