The global currency wars are heating up again as central banks embark on a new round of easing to combat a slowdown in growth.
The pound weakened from near a two- year high versus the dollar after an industry report showed U.K. service growth slowed more in November than economists forecast.
The yen rose, snapping a two-day decline against the dollar and the euro, as concern over the pace of the U.S. recovery and the financial health of European banks boosted demand for Japan’s currency as a refuge.
"You're certainly going to see people who are hopeful of defending the $1.60 level and have an active interest in buying it back, but increasingly people are of the view that it's a level you should be selling at."
- Neil Mellor on Oct 15, 2014
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