The reason for overlaying that with caution is a number of more complex factors: the general election and the uncertainty that may result,
the relative lack of growth in the eurozone and factors of uncertainty over Russia.
The dollar's fall against the euro and the
growth in emerging economies dollar reserves are thus both manifestations
of the same basic trend — a
lack of private demand for dollars,
relative to the US current account deficit, and the resulting pressure for the dollar to fall...