FX deval is what you do to stimulate exports (and potentially crush operating margins) when you do not wish to borrow more $$ .......
the "only way" that the USA and Europe can "play" in this game is to "deval" their own currencies .........while in the short term - this will be seen as very negative for commodities ........people may wish to check the correlations betwixt US$ and gold / nickel and oil .........
most interesting times ahead imho !
rgds
V_H
china deval ....., page-8
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