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Currency War, On Like Donkey Kong
Acerbating markets volatility and structuring a currency war, the Bank of Japan intervened into the currency market in order to spur the Yen to the downside. Following an act by the Swiss National Bank of lowering the interest rates near zero LIBOR rate, Japan is trying to shake-off investors’ confidence in placing their money in the currency amid risk aversion flows. With the United States Dollar losing its appeal as a reserve currency and investors’ lack of confidence in plaguing Euro-zone, there are not a lot of options left on the table. Funds have been flowing at an accelerated rate to gold, the Swiss Franc, ... (full story)
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