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Currency wars; It takes two to tango - BBH

FXStreet (Barcelona) - Analysts at BBH explained that the foreign exchange market could become the terrain of competition between countries. This is what is frequently meant by a "currency war".

Key Quotes:

“Since the international political economy is characterized by the competition between states, the key issue is one of degree”.

“Many Japanese officials were keen to indicate that they were not the drivers of the yen's recent decline”.

ECB and French officials more explicitly have been talking the euro lower. However, the main weight on the euro has been the divergence between US and euro zone economies and policies”.

“It takes two to tango in a currency war, and the US Treasury will likely use its update of its assessment of the currency market and international economy to urge others to show restraint”.

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