In the view of the analysts at Deutsche Bank, the best bet in the times of a currency war is likely to go long Gold.
“With a currency war most likely to be fought on USD/CNY and EUR/USD terrain, one approach would be to steer clear of the direct conflict.
By far the most direct and simple way to trade the complexities of a currency war is by going long gold.
The U.S. attempt to weaken the dollar and the response from other nations was to combat such intervention … sparking a "true currency war."
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