During the presentation of the World Economic Prospects on Tuesday, Pierre-Olivier Gourinchas, Economic Counselor and Research Director of the International Monetary Fund (IMF), noted that the strength of the dollar is putting several countries in trouble, according to Reuters.
Featured Statements
“There have been some malfunctions in the UK financial markets.”
“We welcome the announcement of the UK’s mid-term budget at the end of October.”
“The strength of the dollar is the result of fundamental economic forces, not the dysfunction of the markets.”
“The proper response is not to try to stop the dollar from advancing, but to let currencies adjust.”
Market reaction
These comments do not appear to have a significant impact on the dollar’s valuation. At the time of writing, the Dollar Index was down 0.1% on the day at 113.06.
Source: Fx Street
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