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Deficit Battle Persists as Dollar Stability Improves
AP News outlines that despite export surplus the United States still runs a large capital outflow, lifting gold out of reserves. The Fed notes a June $70 million drain in the stabilization fund, while Britain faces a seventh postwar pound crisis and may raise rates to defend the currency. France remains a steady U.S. gold buyer.
MENTIONED IN THIS ARTICLE
Sam Dawson
AP Business News
New York
U.S
Federal Reserve Board
Aabroad
Bank of England
U.S. Treasury
Special Exchange Stabilization Fund
France