Currency wars are going on for a long time. Everybody wants a weaker currency to encourage exports and to remain competitive. However, a strong currency also has some advantages. Here are a few. Some countries, like China, control their currency, some intervene in markets directly, such as Japan and and Switzerland. Others are busy with QE (US, UK) and the ECB has its form of indirect QE. Even countries which are considered to have real free markets are not totally ruling that out: complaints about a strong currency have been heard from Canada, Australia and New Zealand. So, what is the positive side? Lower ... (full story)