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.
"A lot of the fears about the economy are now materializing and the bottom line is the downside for sterling is still there."
- Neil Mellor on Oct 23, 2014
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