There are a lot of things in motion these days with Covid19 response efforts wreaking havoc on national economies across the globe. Many issues have been covered/discussed in separate "reality check" threads for individual nations, but it was inevitable that at some point, we'd need to take a step back and look at the big picture...
More: https://www.reuters.com/article/us-...ions-speculation-of-big-g7-move-idUSKBN2163UT
tl;dr - Currency wars may start heating up if the dollar keeps rising.
LONDON (Reuters) - From Brazil to Norway, policymakers are leaping to defend currencies against the onslaught of the dollar which scaled three-year peaks on Thursday, raising speculation that a joint move by the world’s biggest central banks may be in the offing.
A global stampede for dollar funding drove currencies across the world to multi-year or record lows against the greenback. Some relief came after the U.S. Federal Reserve opened $450 billion in swap lines to several central banks but the pressure broadly remains.
Coordinated central bank action remains unlikely for now, market watchers said. But these are unusual times, and Norway’s central bank on Thursday threatened to intervene to lift the crown, a step it has not taken in more than 20 years.
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More: https://www.reuters.com/article/us-...ions-speculation-of-big-g7-move-idUSKBN2163UT
tl;dr - Currency wars may start heating up if the dollar keeps rising.