Tensions Rise In Currency Wars -- Financial Times
If the world’s shell-shocked investors thought that 2011 might see an outbreak of peace in the currency wars, they were sadly mistaken. Not only did Brazil last week take more action to stem the rise in the real but Chile, one of the most free-market of emerging economies, has also unveiled a campaign of intervention against its currency.
With a sense that the battles against destabilising capital inflows are here to stay has come a determination to set new rules of engagement on controlling them. But given the uncertainty and political explosiveness around the issue, any such venture faces a tough future.
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My Comment: All artificial attempts to manipulate and regulate a currency ends in failure .... as to today's currency markets, we are starting to witness a cycle of these failures right now. Throw in a trade war .... then it becomes interesting.
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