While Syria and Ukraine have the world worried about war, a much cooler war continues across the world. This is the one fought not with bullets or missiles, but instead with big wads of cash. The currency war that has swept the globe since 2008 is continuing on many fronts, as we have discussed before.
It’s time for an update. Who is winning the currency war? Right now, the answer appears to be Japan, but China has more than a few tricks it is working on. Europe remains a big loser and the US is pretty much holding even.