Mises Daily
Author:
Frank Shostak
Online Publish Date:
A September 21 announcement by the G-7 finance ministers endorsed less intervention in the foreign exchange market, and triggered a large sell-off of the US dollar. On the day of the announcement, in relation to the end of August, the US currency fell by 4.8% against the Euro and 4.1% against the Yen. Many economists have suggested that the