Currency ‘volatility’ worries G-7 officials
Top economic policymakers from the world’s seven major industrial powers indicated strong concern Saturday about the dollar’s recent sharp fall against the euro, issuing a statement denouncing “excess volatility and disorderly movements in exchange rates.”
But while Saturday’s statement may reverse some of the dollar’s decline against the euro when currency trading opens Monday, skepticism abounds in global financial markets that the dollar can be stopped from falling further in months ahead, because of the giant U.S. trade deficit.
A trade deficit caused by the reckless spending and endless wars of George W. Bush. When Clinton left office we had a surplus.