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With the Bank of Japan announcing a new round of asset purchases early this morning, it’s safe to say you’ll hear a lot about “currency wars” again.That term was first coined back in September 2010 by Brazilian Finance Minister Guido Mantega, in reference to countries trying to weaken their currencies to boost exports.
Well all the conditions are now in place.
You have the ECB, the Fed, and the BoJ now easing.
You have global trade slowing (as the CEO of FedEx said yesterday).
And you have Guido Mantega back in the news, blasting QE3.
Currency Wars are back.
Need to brush up on what “currency wars” are:
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