EURUSD was at 0.53 low in 1971. The five waves top 2008 was 1.58. The European currency has risen 300 percent against the dollar.
USDJPY has fallen from 260 in 1985 to 76 in 2012. That means that the YEN has risen 342 percent against the dollar since 1985.
Without these huge devaluations of the dollar the US could not compete with its industries. China knows this very well and they refuse to let their currency be traded on the open markets. The yuan is therefore very undervalued.
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