MORE PAIN FOR GLOBAL CURRENCIES – IS THE FED WATCHING? When will the pain end for currencies other than the dollar? If those tracking the euro and pound were hoping for some respite after the weekend, that’s not how it is looking like today. More drops from already all-time lows. With these two currencies, the declines have been almost seismic in their impact, more so for the UK which has initiated on a ‘go-for-broke’ push to pump up growth through tax cuts, removal of banker bonuses, etc. When will dollar’s run up end, soothing the concerns over other currencies? Will the US Fed feel the pain all around and ease up on the rate hikes? (By Manoj Nair, Business Editor)
Reuters