The dollar was trading higher against most of its major rivals on Tuesday as traders eye the Fed’s rate statement and press conference on Wednesday amid uncertainty over the bank’s next move.Official data released Tuesday was mixed and largely ignored by traders who are more concerned by what the Fed has to say. U.S. consumer prices rose in line with expectations in May and consumer price inflation rose 1.4% from…
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The U.S. Dollar: Too Much of a Good Thing?
The U.S. dollar really is everyone’s problem. There are more dollars in circulation worldwide than any other currency – perhaps more than all other currencies combined as a full two-thirds of the rest of the world’s foreign reserves are denominated in the U.S. dollar. It’s also true that two-thirds of all dollars circulate outside of the United States. They have long been the choice of exchange on the world’s black markets. The reason is because they are so recognizable and accepted everywhere e…