No one wanted this

The financial crisis has ratcheted up a dangerous notch. The currency markets have gone wonky. The authorities now have to make some pretty big and delicate moves – something like doing microsurgery on a plane in turbulent skies. The yen has risen by 40% against the euro since August, and 30% in October. In that month, the Australian dollar has fallen by 25% and the pound by 16% against the US dollar. Changes of this scale are alarming in the stock market. They are petrifying in currency markets...