- Apr 13, 2011
In times of economic stress countries are temped to devalue their currency to boost exports and attract foreign investment. But currencies are not a one way street trading partner can retaliate and start a race to the bottom or resort to protectionism. Japan just devalued the yen by more than 15% against the $ and the currency wars are heating up. Where will the Euro stand at the end of the year against the dollar? $1.50? Is Draghi about to move?