The back story in financial markets hasn’t changed much - the US economy continues to pull ahead, Europe is going backwards and the UK is going nowhere at all. The Japanese authorities are talking down the yen, except that now...

‘Currency wars’ are all the talk of the City as some central bankers bemoan their super-strong currencies (for example - New Zealand, Switzerland, Brazil) while others adopt either covert (UK) or overt (Japan) weak currency policies.The ‘currency wars' started in...