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.
Switzerland’s franc weakened against the euro and the pound, paring its advance one day after climbing to records as investors unwound positions in thin year- end trading.
The pound fell, reaching its lowest level in more than 13 months against the dollar, as Europe’s sovereign-debt crisis drove investors to the perceived safety of U.S. assets.
"The U.K. is just coasting toward monetary tightening, things are going very well."
- Neil Mellor on Jul 18, 2014
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