“Central banks are in combat mode.  On the front lines: Europe, Denmark, Canada, Switzerland, Peru and India. Each of their central banks has taken unprecedented and dramatic action to ease policy and weaken their currencies in the past few days.  The currency wars have defined post-financial crisis policies, as countries and central banks search for economic growth that’s been lumpy and disappointing.  The question investors are now asking: How does this all play out? For the time being, they love it. Easier policy, low rates, QE, cheap money, weak currencies—it’s all a recipe for gains in stocks and bonds.”

http://www.cnbc.com/id/102360917

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