We have seen that before. I doubt the fed will allow a precipitous drop in the dollar, gradual, sure. In edit out of CCMP here for a fast $.56 at $49.56, repairing earlier damage and leaving some extra.
In edit and now out of that first NVEC here at $53.99 a loss of $.63, but still a gain on NVEC for the day (but no bucker for a change).
Russia does quite a lot of trading with European counterparts and selling oil in dollars and holding them in what has been a 40% drop in value. US deficits are not a problem till they are. Likely subject for Greenspan to consider but would he dare to breach the obvious? Nah, it would crush the market/economy before the elections.
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