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Central Banks Playing Own Version of FX Monopoly
When the Plaza Hotel started selling its own version of Monopoly, the game board lacked a square to mark the 1985 currency accord named for the New York landmark. “Plaza-opoly,” introduced this year, recognizes the hotel’s role as a location for the movies Home Alone 2 and North By Northwest, yet there’s no acknowledgement of the historic pact struck there by the largest economies to devalue the dollar. Such a mention would have been timely reminder that exchange rates as a policy tool are coming back in style as they haven’t been since then. The difference now is that central bankers are looking to push ... (full story)