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War of weakening currencies may be based on false premises

Posted on 11 January 2013

In the past few years, central banks around the world have pumped trillions of dollars into the financial system, partly motivated by the desire to keep their currencies weak in relation to others.
Yet a weaker currency is not the booster conventional economic wisdom suggests, according to Steven Englander, head of currency strategy at Citi. The traditional view that a weaker currency boosts exports and therefore stimulates the economy is over-simplified, he argued………………………………………..Full Article: Source

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