Latest Morgan Poll, page-64

That's an interesting statistic Lapdog, but was it taken from an Economics textbook? As I recall, a "real" or "effective" exchange rate is one weighted against all our major trading partners shares of imports & exports.

So, choosing just the US rate alone (no China? India? etc etc) for this particular exercise seems to be creating a new statistic to satisfy a pre conceived outcome. Happy for you to give a link to an economics pundit to correct me if required.