IMF says dollar ‘overvalued’ on currency markets
“The real effective exchange rates of Japan, the euro area, and the UK all appear broadly in line with medium-term fundamentals, while the US dollar is on the strong side of fundamentals,” the IMF said in a report to the Group of 20 economic powers.
The IMF noted that recent government interventions in the foreign-exchange market had contributed to the imbalance, which has sparked fears of “currency wars” to protect exports amid the global economic recovery…
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