Stockwatch: Dividend wars and the pharma Farquaad squad
This article was originally published in Scrip
Executive Summary
At the meeting of the G20 finance ministers in Moscow, promises have been made to refrain from competitive currency devaluations. Indeed, the head of the International Monetary Fund reiterated the stance by saying that there would be no currency wars. As usual, the finance ministers of the world’s largest economies are well behind the curve since one of their members, Japan, already stepped into to devalue its currency last August and the month after, the Swiss National Bank conducted a substantial and sustained weakening of its currency by purchasing foreign exchange in unlimited quantities.
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