Now that The Fed is (however briefly) out of the money-printing business, it appears to have turned its attention to the rest of the world's "despicable monetary policy" actions and fired what seems to be the first warning shot of 'currency wars 2.0', as MarketNews reports:
ECB SOURCE SAY EUR3 BILLION BALANCE SHEET TARGET NOT IN THE CARDS: MNI
ECB SOURCE FED HAS NOTICED EUR SLIDE AND ECB MUST NOT PUSH TOO FAR: MNI
One wonders how long before Jack Lew also proclaims Japan a 'currency manipulator' (and, gasp, the Eurozone) especially after Germany's Wolfgang Schaeuble reminded the world this morning that "growth can't be helped by printing money." You don't say...