| Last week saw a remarkable five of the Group of 10 central banks hold policy board meetings: the Reserve Bank of Australia (RBA), Bank of Canada (BOC), Bank of Japan (BOJ), Bank of England (BoE) and the European Central Bank (ECB). All were on hold and none made any policy moves. Yet the hints that they gave were enough to infer that this is just an interregnum in what's been called the "currency wars."
The meetings made it clear that the "currency wars" are still with us, and clarified each central bank's stance in these wars. It's not yet clear who will "win" the wars by weakening their currency the most, but the U.S. seems set to be a "loser" by having its currency rise in value against the others...............................................Full Article: Source
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