Time For An Intervention

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As impressive as the dollar's recent ability to master the limbo is, Asian central banks have seen enough. In the race to see which side of the Pacific can tanks its currency enough to spur exports to anybody willing to buy them, the US was making alarming progress for the likes of South Korea, Taiwan, the Philippines and Thailand, each a proud new owner of at least several hundred million greenbacks. Not that basement level interest rates in the US weren't enough of a problem for Asian export economies before, but now they're fighting the uphill battle of the rate hikes and job growth recently seen in Australia potentially spreading like a plague throughout the region. So, in the end, Timmy G was correct. There is a real commitment to a strong dollar. It's just coming 10,000 miles from DC.

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