1. Bucking the trend.
- Author
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Sanford, Jeff
- Subjects
- *
BALANCE of trade , *U.S. dollar , *CURRENCY question , *FOREIGN exchange , *NATIONAL currencies , *ECONOMISTS , *SOCIETIES - Abstract
The article focuses on an April 14 meeting of the Economic Club of Toronto. The discussion slated for the gathering: the U.S. dollar, which analysts believe is on the edge of another drop, as a sort of catastrophic end to its long, slow slide. The day's speaker, Andrew Busch, global market strategist at BMO Financial, gave a contrarian take. Yes, Busch said, there is a huge trade deficit between China and the U.S., and that's put the world out of balance. Busch argued the important signal for currency markets is that the U.S. is trying to do something about the situation, and its efforts could surprise market watchers and foreign-exchange traders who think they're betting on a sure thing. If nothing else, Busch's view illustrates the slipperiness of predicting currency markets.
- Published
- 2005