Once again justifying the Economist's Big Mac Index, which had been saying the dollar was overvalued, the dollar has been crashing against the Euro. This is particularly noteworthy as the Euro-area is not itself in the most wonderful economic shape. Which means that the currency traders think we're in even worse shape (click the imgage for details of the slide over the last 30 days). Lovely.
A Personal Blog
by Michael Froomkin
Laurie Silvers & Mitchell Rubenstein Distinguished Professor of Law
University of Miami School of Law
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