Who are the biggest currency winners and losers?

John Wyn-Evans, head of investment strategy at Investec Wealth & Investment, takes a closer look at the global impact of recent currency wars and a future rise in US interest rates.

Currency volatility has increased over the last year, becoming more relevant to the investment story in the process.  In the aftermath of the financial crisis, interest rates have been falling everywhere, stirring up talk of currency wars and a 'race to the bottom' as countries tried to become more competitive. Currencies shoots up equity investors' agenda as central bank policies diverge As long as the US was leading the way with quantitative easing and a near-zero interest rate policy, risk assets around the world were supported by a flow of cheap dollars.  But this equilib...