Currencies The darling dollar

摘要

International investors seem incapa-ble of ending their love affair with the dollar. America's economy has slowed sharply this year, yet its currency has risen to a 15-year high in trade-weighted terms. This week the dollar hit a 30-month high against the yen, almost ¥127. Against the euro it touched $0.88—8% higher than in early January and close to the level at which the European Central Bank and the Federal Reserve jointly intervened to prop up the European currency last September.