Bond investors dampen talk of 'currency wars'

Chinese currency — The US is pressuring China to speed up appreciation of the yuan

Alex Monro
13 Oct 2010

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The risk of currency wars has been overstated since the major economic powers stand to lose too much by them, credit investors and strategists have said.

Fears of a currency war have grown in recent weeks. In September, the Bank of Japan intervened in the forex market for the first time in six years, selling an estimated ¥2.124 trillion to hold down the value of its currency against the dollar.

On September 27, Guido Mantega, the Brazilian finance minister, warned that a currency war risked

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