Currency war likely between Germany, France

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Berlin favors a stronger euro, but France's president says the single currency’s heady rise on the foreign exchanges needs to be brought under control.

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So here’s the good news. The overhyped threat of “currency wars” is off the table for the time being after G-7 officials said they won’t censure Japan over Prime Minister Shinzo Abe’s go-for-growth strategy built around looser credit policy and a weaker yen, reports MarketWatch.