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According to the currencies of the Commercial Partners of the US, the $ 10-12 percent of the US dollars have seen the lowest levels since 2018.
Dollar / TL dry is also affected by this decline. Dollar / TL dry last 3 days when saving regression, testing the lowest level since August. Today, Dollar / TL traded at 7.05 had seen 8.58 in November 2020.
In the Analysis of the Dollar in Bloomberg, the Economist Stephen Roach reminded the estimation in June, reprimanding the dollar to be 35 percent of the dollar in the global markets as of the end of 2021.
“We’re on the third strokes of a baseball game of nine strokes yet”, if this estimate is correct, if this estimate is correct, the decline in the dollar will be a significant warning to hit the first year of the US President Joe Biden.
Current Open offers the widest extensive assessment of trade because it includes investment revenues. The ratio of the current account deficit in the USA (GDP) of the current deficit (GDP) was recorded as 3.3 percent by increasing 1.2 points in the second quarter of 2020. This ratio was calculated as 3.4 percent in the third quarter.
The country’s current transactions deficit increased by 10.6 percent compared to the previous quarter in the third quarter of 2020 and was $ 178.5 billion.
As the increase in the second quarter is the largest rate, the current position of the current account deficit represents the worst level since 2008.
In 2020, the current account on expansion was the natural result of the $ 2.2 trillion cares law, which aims to provide financial support during Covid restrictions. Cares is used as a shortening of the coronavirus aid, support and economic security law and entered into force by signing the US President Donald Trump on 27 March 2020.
When an epidemic and created impact is ongoing, a $ 2.8 trillion dollar financial support package will be added. The $ 900 billion of this was commissioned in December, while the $ 1.9 trillion is offered by the biden.
Covid support packages will find 5 trillion dollars in total. This corresponds to 24 percent of the gross domestic product of 2020. The current open expansion can also be affected by it.
Economist Stephen Roach transmits that the reactions to the negative predictive of dollars are “not another alternative” and contest it. For this, China’s national currency yuan and euro, even the precious mines and crypto coins are examples.
Since June 2020, China has been the pioneering of post-Covid recovery over the world, he added value to the currency. In 2020, with February, the Euro has experienced a 7 percent increase.
In July 2020, Germany Prime Minister Angela Merkel with France President Emmanuel Macron was an important factor to arrange at 750 billion euros recovery fund.
On the other hand, gold prices rose in 2020 in the summer, in relation to the US and EU recovery packages. Increased liquidity was effective in the rise of gold prices.
Under the current account defective pressure, central banks usually grabb the hard monetary policy. Stephen Roach is today for the US Central Bank Fed reminds that it is not valid.
The new inflation approach in which the Fed adopted in August, is “average” 2 percent of the inflation target and points to a more loose posture. This was the indicator that the Fed will not be in a hurry on the increase.
It is more likely to become more dependent on foreign capital to balance the current open expansion of the US and the approach of the Fed.
The fact that the epidemic is still driving and the economy is on the brink of the double-bottom recession, forcing biden management to adopt another fiscal support package. This will be the results for the economy. The decline of the dollar is one of these results.
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