Financial Times FT.com

Dollar muted in spite of turmoil

By Peter Garnham

Published: September 19 2008 11:00 | Last updated: September 19 2008 22:08

A tumultuous week on the financial markets saw economic fundamentals take a back seat as currency investors pondered the effects of the current shake-out.

With the collapse of Lehman Brothers, the US investment bank, followed by the state-sponsored bail-out of AIG, the largest US insurer, the natural reaction might have been a sharp sell-off in the dollar.

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