It’s been another challenging year for the American economy. Unemployment has been stuck above 9% for months, consumer spending has been stuck in a rut, and overall growth has slowed. Yet, the dollar has still managed to make substantial gains against other major currencies.
For several weeks, 60% of those trading the euro against the dollar have been buying the dollar. And for those trading the U.S. dollar against the yen, more than 80% have favored the dollar over the yen.
