Chasing the perfect storm

A man with an umbrella sheltering from a thunderstorm

As the Dollar Index plunges towards the record low level of April 2008 and ends what will probably be its sixth year of losses since 2002, there are growing fears that the US dollar will be entrenched in a secular downturn in 2010. Pessimism about the dollar’s demise has been exacerbated by calls from Brazilian, Russian, Indian and Chinese (Bric) officials for a re-configured Special Drawing Rights (SDR) to replace the US dollar as the global reserve currency and as the pricing unit for

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