Try To Stop Me, If You Can

A powerful rally turns the U.S. dollar into a raging buck

There it went again: up, up and away. As fidgety governments struggled with little success to halt the trend, the U.S. dollar took off last week on the sharpest rally since it surged to record heights against major currencies in 1985. The frenzied rise -- which brought the greenback's gain against the West German mark and the Japanese yen to 12.5% so far this year -- raised disturbing doubts about the ability of the U.S. and its major trading partners to keep exchange rates under control. "This is a runaway freight train," said Jay Goldinger, a Los Angeles-based trader. "Anyone who...

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