From Simon Kennedy, at bloomberg.com:
(Bloomberg) — The global currency war is threatening to prove a silent killer.
So says David Woo, head of global rates and currencies research at Bank of America Merrill Lynch in New York.
While some question the existence of any conflict — arguing that falling exchange rates merely reflect efforts by central banks to spur lackluster domestic economies — Woo expresses concern.
“There is a growing consensus in the market that an unspoken currency war has broken out,” he said in a report to clients this week. “The reason why this is a war is that it is ultimately a zero-sum game — someone gains only because someone else will lose.”
To continue reading: Currency Devaluations Are an Undeclared War
