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U S Deficit To Shrink -- I R Hikes Will Be Taken In Stride

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Wednesday May 17, 06:02 PM

Snow says US deficit will be lower than forecast

WASHINGTON (AFP) - US Treasury Secretary John Snow has told lawmakers that the US budget deficit will be "well below" the latest official forecast of 423 billion dollars for the current fiscal year.
Speaking to the House Financial Services Committee, Snow said the budget in the fiscal year to September 30 is being helped by "strong revenue due to economic growth and rising employment.

Oversold $?


Dollar jumps on rekindled inflation fears, French comment

LONDON (AFP) - The dollar climbed against other major currencies in volatile trading as comments by the French Finance Minister Thierry Breton combined with fears that inflation was not yet under control in the United States.
The euro fell Wednesday to 1.2729 dollars in late European trading from 1.2859 dollars late on Tuesday in New York, after initially breaching the 1.29 level in early trades.
The dollar rose to 110.45 yen after first falling to 109.00 yen -- the lowest point since mid-September 2005. The US currency had changed hands for 109.71 yen late on Tuesday.

The worst case scenario for Gordon is an overvalued pound in a recessionary world economic climate.

Edited by Realistbear

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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