FX Week USA: Recovery has taken a nose dive, IMF warns

The global economic recovery has slowed considerably over the past six months following promising data at the start of the year, a senior official at the International Monetary Authority has warned.

"Most macroeconomic data had shown considerable strength until earlier this year, reflecting the effects of strong rebounds in exports globally, and continued and strong policy stimulus in both advanced and emerging market economies. However, most industrial countries have shown weakness recently. We