Submitted by Steve H. Hanke on 05/04/2016 - 08:00
Authored by Steve H. Hanke of The Johns Hopkins University. Follow him on Twitter @Steve_Hanke.
A few weeks ago, the Monetary Authority of Singapore (MAS) sprang a surprise. It announced that a further nominal appreciation of the Singapore dollar would not be in the cards. Many interpreted this as a currency war maneuver (read: competitive devaluation) intended to promote exports.