US dollar pain spreads beyond emerging economies to developed peers

(Image: Bloomberg)

Wed, 07 Sep 2022

(Bloomberg) – Developed economies are taking a hit from the US dollar’s appreciation to multi-decade highs in ways that were once more familiar to their emerging market peers.Fueled by the Federal Reserve’s most aggressive tightening cycle in more than a generation, the stronger greenback is pushing rival currencies lower, driving up the cost of imported goods, constricting financial conditions and feeding inflation in other economies. That’s ratcheting up pressure on other central banks to raise interest rates just...

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