Analysts hit back at currency war claims

Further Plaza II-type agreement is unlikely, however, and only weak "peer pressure" applied to currency problems, says Barclays Young

Analysts are hitting back at claims that a currency war is emerging, while exposing risks associated with international co-ordination on exchange rate policy mooted to prevent a drift towards unilateralism.

The Institute for International Finance called for more global co-ordination on macroeconomic, trade and currency policies to address the battle developing in the currency markets. However analysts claim the preconditions for successful co-operation are not in place.

“Past attempts to co