Dollar/markets: Dollar debauchery could be ending

Markets have taken last Friday’s surprisingly good US jobs figure as a turning point. The dollar, until recently seen by many as headed for oblivion, has rallied, breaking below the E1.40 level. The surge upwards of oil and commodity prices has been curbed. What lies behind all these moves is the belief that the Federal Reserve’s extreme efforts have begun to work – and that its money printing press might make a welcome return to a locked cupboard. Until recently, the dollar was deemed unsafe b...