For a start, sterling at its trough was undervalued: British companies could therefore take much of its rise in their stride.

ECONOMIST: The economy

If that were to happen, demand for dollars would sink, and because there is no other currency to take its place in terms of trade, global inflation would rise as important commodities like agricultural goods, oil and precious metals metals would rise substantially to compensate.

FORBES: What Happens in a World Without Dollars?

Europe is closing its interest-rate gap with the United States, but after a widely expected rise in its key interest rate on Wednesday it seems like it will take a while for any further tightening moves.

FORBES: ECB Indicates A Pause