Currencies

Last month's currency report seemed to be going so well until the US banking system imploded, and at the time of writing the US Treasury rescue package is waiting for approval from Congress, which is highly unlikely to challenge it. This would make Mr Paulson the world's biggest fund manager. The immediate response to this news has been a sell-off in the US dollar, which is understandable as the global economy becomes awash with dollars trying to heal the toxic debt problem. However, looking through the short term no-one can say for sure how this once-in-a-lifetime collapse will eventuall...