are we headed for a currency war yuan versus dollar

Are We Headed for an All-Out Currency War?

Last week, China pushed down the value of its yuan to its lowest level in 11 years, and the U.S. Treasury designated China a “currency manipulator” in response. Meanwhile, gold soared to fresh six-year highs after breaking through the key $1,500/oz. level. Many worry this could spark an all-out currency war between the two powerhouses…