Asia Bizz: Singapore Acts Against The US Dollar, UN States That There Could Be Foreign Exchange Battle
The Singapore authorities have strictly acted against the dollar because of the market volatility and South Korea and Japan have lashed on each a verbal bout just ahead of the G20 summit. US on the other, is forced to print money to help its faltering economy, really strange from US, as this is the case then the rest of the damaged economies too would start the printings very soon.
The US was forced to do so because of the surprise move by Singapore against the dollar. One instance has been noticed, that the dollar is indeed troubling most of the Asian economies, and especially the south east nations. With so much imbalances seen in the global economy especially after the financial crisis, policy makers fear that many countries in world would start a protectionist policy move, which will destroy the growth of the dollar.
The United Nations on the other hand has stated that after looking at the current condition of the market and the world economy, there could be a currency battle among major economies and up coming economies.