IMF’s Gourinchas: Dollar strength is putting a lot of strain on a number of countries
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While presenting the World Economic Outlook on Tuesday, Pierre-Olivier Gourinchas, Economic Counsellor and Director of Research of the International Monetary Fund (IMF), noted that the dollar strength is putting a lot of string on a number of countries, per Reuters.
“There has seen some dysfunction in UK financial markets.”
“We welcome the announcement of the UK medium-term budget at the end of October.”
“Dollar strength is the result of fundamental economic forces, not market dysfunction.”
“Appropriate response is not to try to stem the dollar’s advance, but to let currencies adjust.”
These comments don’t seem to be impacting the dollar’s valuation in a meaningful way. As of writing, the US Dollar Index was down 0.1% on the day at 113.06.
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