This week, all eyes have been fixed on the relationship between the euro and the dollar. No wonder. A year ago, the eurozone was
running a tighter monetary policy than the US.
This week, however, the European Central Bank embarked on a massive new round of quantitative easing, even as American monetary policy officials such as James Bullard, head of the Reserve Bank of St Louis, signalled that they want to raise American interest rates soon.
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