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Central Bankers, Unite!

From bloombergview.com

In September, the world will commemorate the 30th anniversary of the Plaza Accord. That agreement to weaken the dollar and boost the yen still stands as a landmark of economic cooperation -- something that's sadly lacking in our chaotic and deflationary times. This week’s panicky move by Singapore's central bank shows why it may be time for another round of currency talks. Thirteen days after the Swiss National Bank let the franc soar, the Monetary Authority of Singapore unexpectedly eased policy and allowed the Singapore dollar to weaken. The unilateral moves disrupted markets around the world, adding to the general ... (full story)

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