The monetary expansion of the mid-1990s was expected to lead to a currency appreciation.

Name: The monetary expansion of the mid-1990s was expected to lead to a currency appreciation.
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The monetary expansion of the mid-1990s in the United States actually led to a currency depreciation, as the increasing money supply and lower interest rates made the US dollar less attractive to foreign investors. This contributed to a decline in the value of the dollar in international markets.

The Monetary Expansion of the Mid-1990s Was Expected to Lead