The dollar hovered within sight of a five-year high versus the yen on Tuesday and was on track for its biggest yearly percentage gain versus the Japanese currency in 34 years.
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John Mauldin, Chairman of Mauldin Economics, says it is not unlikely for the U.S. to come to a trade surplus with the help of an expected boom in energy exports.
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Britain’s economic recovery is off-track, Sir Mervyn King warned on Tuesday night as he defended the Bank of England’s decision to pump money into the economy again by purchasing £75 billion ($118.2 billion) of gilts over the next four months, the FT reports.
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Stocks closed out their worst quarter since the financial crisis, but it might be too early for investors to breathe a sigh of relief, as volatility will likely continue.
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The federal budget deficit is on pace to break the $1 trillion mark for the third straight year, ratcheting up the pressure on the White House and Congress to reach a deal to rein in spending.
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