It is not all financial business to foreign currency. The sharp fall in the dollar has winners and losers in global trade, amid difficult economic conditions that have been in decades. For countries like Japan and Germany, the floor is a source of concern that a stronger currency exports more expensive in times of declining global demand. For the U.S., by contrast, is a positive development which, incidentally, could help offset declining prices. Until recently, the dollar coin was one of the most robust, rising relative to all others, with the exception of the yen. In recent weeks, more specifically after the Federal Reserve cut its benchmark rate to near zero, the dollar has reversed

course abruptly. Since early diceimbre, the dollar has lost about 10% against the euro and 8% against the yen. According to the Wall Street Journal, in Japan the government is so concerned about the yen's strength has sent signals that any intervention in the currency market. A few days ago, Honda's president warned that inflation could strangle yen to the Japanese industry. Europe, for instance, and especially its locomotive Germany is very dependent on exports, with little domestic growth. This undoubtedly will complicate the future recovery of the economy.