Last year's unprecedented shifts in forex markets have brought many countries to the point of attempting intervention.
Russia announced that the rouble, down 30 per cent since July, will be allowed to drop another 10 per cent against the dollar. Then it will try to bring the devaluation to an end.
The fall in sterling, which has halved in yen terms in the past 18 months, brought complaints from European politicians that the undervalued pound was an unfair advantage for the UK over the eurozone.
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