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9) With the start of the financial crisis in August 2007, the dollar began an accelerated decline in value, falling by 9% against the euro.

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9) With the start of the financial crisis in August 2007, the dollar began an accelerated decline in value, falling by 9% against the euro. At that point, the financial crisis appeared o be a US problem. However, by mid-2008, the crisis spread to Europe. Discuss the reaction of the dollar to actions taken by European central banks in late 2008 to deal with the widening financial crisis

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