2003: DOLLAR EXTENDS DAMAGE, COMMODITY CURRENCIES SOAR
2003: DOLLAR EXTENDS DAMAGE, COMMODITY CURRENCIES SOAR The major differences distinguishing the global economic/market environment surrounding the 2003 dollar sell-off from that of 2002 were (1) the breadth of the commodity rally; (2) increased geopolitical uncertainty weighing on the U.S. dollar and U.S. assets after the outbreak of the Iraq war; and (3) deteriorating budget…