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Dollar falls to six week low

The US dollar today fell to a six-week low against the euro and saw a further decline against the yen as the Federal Reserve admitted it will introduce further easing policies if the US economy does not react to ongoing stimulus programs. There is now a major concern about the US economy which after a relatively strong start to 2010 has literally fallen by the wayside. Many elements of the US government are seriously concerned about the short to medium-term outlook for the economy bearing in mind the fact that trillions of dollars have already been pumped into the system.

As the US economy is in effect the engine room of the worldwide economy any falloff in economic activity will impact upon imports and export and cause a significant slowdown in the worldwide economy. All eyes will be on the US over the next few weeks to see whether indeed US fiscal stimulus programs have arrived just in time or indeed the government has reacted too late to inject capital and confidence into the US economy.

These are very testing times for Barack Obama after seemingly handling the US economy better than many had expected in the early days.

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