Will Currencies Undermine Calm in Markets?

Currency gyrations could erode the financial stability that central banks have worked so hard to achieve.
Whose currency will it be?

Currency markets are back in the news as the U.S. dollar has gained sharply against the euro and yen, and jitters about Scottish independence have hit the pound. So far, though, analysts are largely missing an important potential consequence of the gyrations: They could erode the broader financial stability that central banks have worked so hard to achieve.

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