16.03.2015 - No, We're Not in a Currency War
Anyone paying attention to the financial media could easily get the impression that the world is hellbent on stealing the U.S. economic recovery. Central banks from Frankfurt to Beijing, the story goes, are pushing down their currencies' exchange rates against the dollar -- and against one another -- in a craven effort to make their exports cheaper. Lest this "currency war" meme lead politicians to do anything inadvisable, let's be clear: It's a load of baloney. True, there has been a lot of action lately in foreign-exchange markets. Even as the U.S. Federal Reserve has moved toward raising interest rates, policy makers in other major economies -- Europe, Japan and China -- have been pushing rates down, sometimes into negative territory...............................................Full Article: Source
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