There has been so much talk about currency wars but there has been little analysis on who would be the most active players. Finger pointing is one thing, but looking at those who are most active over time is a better approach. HSBC has done a good job of providing a list of those most active in the currency markets.
Japan and Switzerland are the those that have been most active through either direct action or the accumulation of currency reserves. Asia, in general, has been more active at controlling currency rates. If you want to look at the warriors in this battle take a look at the bottom of this list.
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