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Major economies should coordinate policy measures

Discrepant decisions by Fed, ECB and BOJ point to economic warfare that will make all of them losers with disastrous consequences for the economies.

The combination of a rising US dollar and a falling yen may be ambiguous as a strong greenback is good while a falling Japanese yen is bad for the eurozone.

DECISIONS by the US central bank (Fed), the European Central Bank (ECB), and the Bank of Japan infer a currency war unless central banks somehow contrive to find a way out of the blind alley that they have chosen to manoeuvre themselves into.

The US dollar seems bound to strengthen