Wednesday, 24 October 2007

Wile E. Remembered

The head of the IMF, Rodrigo Rato, is worried about a Wile E. Coyote moment for the dollar too. Speaking at a meeting in Washington he said:

There are risks that an abrupt fall in the dollar could either be triggered by, or itself trigger, a loss of confidence in dollar assets.

The uncertainty ... comes from downside risks that are much higher than they were six months ago. The turbulence in the credit markets is a warning that we cannot take the benign (global) economic environment of recent years for granted

When the party ends, someone is often found passed out in the loo. It looks like it might well be good old USD's turn for the thumping hangover this time.

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