| A weaker dollar accompanied by a strikingly more dovish Federal Reserve is feeding the notion that global policy makers reached some sort of soft agreement to at least call a truce in the “currency wars” that saw the world’s central banks competing to weaken their respective currencies in a bid to steal export business from each other.
But don’t get too comfortable. “Can policy makers clutch defeat from the jaws of a currency ‘truce’ victory? Of course they can,” wrote Alan Ruskin, macro strategist at Deutsche Bank and a high-profile proponent of global policy coordination...............................................Full Article: Source
|