It’d Be Goodbye Greenback Without Greece
The Telegraph’s Ambrose Evans-Pitchard made a point yesterday that we who only follow the big-name currencies tend to overlook: the dollar appears to be faring much better than it really is because of the instability in the eurozone.
The reality is that the USD has been plummeting for some time against Swiss franc, Aussie dollar, Brazilian real and the Canadian loonie. Were a member of the PIIGS to leave the eurozone, Evans-Pitchard writes, then the common currency could fly anywhere to 1.65 to 1.83 against the American dollar.
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