That was then...

For months investors have been worried about the persistent strength of the US dollar. Despite an increasingly gloomy outlook for the US economy, the currency has shown no sign of relinquishing its safe haven status. So the dollar's recent fall against the euro, despite unexpectedly supportive US data showing slower price rises, a rising house market and a fall in jobless benefits claims, should have been welcomed. But the reality of a weaker dollar has introduced further nervousness into already volatile markets. In mid-August, when trading is thin, the dollar dropped 4% in a week, sl...