Dollar to plummet further in 2005
Reluctance by Asian central banks to provide continued support for the greenback, combined with a lack of private sector willingness to fund the US current account deficit, is set to drive the unit lower.
US gross domestic product should fall from 4.5% in 2004 to 3.25% in 2005, with US domestic demand likely to weaken as the effects of monetary and fiscal policy stimulus fade. A slowdown in productivity and a recovery in wage growth will push up inflation. The US Federal Reserve is expected to
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