Big Money is made when things go wrong on wall
street
BY MATEIN KHALID
King Dollar that saw a 20% rise in the world’s reserve currency (our currency, your problem) died in late September
2022 and the greenback is now 8% below its high on US dollar index (DXY). All G10 currencies have risen at least 7%
against the USD. So its weakness is just not limited to the Euro, yen or the post Liz Truss sterling. Econometric
models, various PPP indices and even the Big Mac index suggested that King Dollar was grossly overvalued at DXY
114. Yet a sequence of world events precipitated its dethronement.
One, Britain’s sterling crisis ended when the Tories booted out Liz Truss after 44 days in 10 Downing Street during
which she managed to bury the Queen, the UK economy, the Conservative Party’s chance to win the next election and
pound sterling. The snap back in sterling from 1.04 to 1.2145…
