This past week Mario Draghi and the European Central Bank held key lending rates steady, but he hinted at his displeasure at a rising EuroDollar. This sparked a sell off in the Euro and strength in the Dollar. More importantly, it brought forth the notion that currency wars are in our future as a rising Dollar is not what the Federal Reserve wants. As one commentator put it: the currency wars are just beginning. It is a race to the bottom.
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