Lessons from Watergate for currency speculators

Will they, won’t they? It seems the world and his wife has an opinion on the dropping dollar and whether Gulf currencies will depeg or devalue. If you don’t like today’s verdict, wait half an hour and there will be anew one along.
Emirates Business today reports that Middle East banks are reducing their exposure to the US dollar ahead of an anticipated US rate cut later this month. “You will see an increase in investments in commodities and long-term bonds,” says R Seetharaman, Chief Executive of Qatar’s Doha Bank.
If you want to know what will happen with the dirham, maybe the best advice is to act like Bernstein and Woodward, the Washington Post reporters who brought down President Nixon: “Follow the money.”