All the major currencies - yuan, US dollar, euro, pound and yen - are battling the others to be the ugliest in a least attractive currency competition. It's better and more concisely known as currency wars or the race to the bottom. It's the prime reason bitcoin keeps shooting up. When the reset (ie, crash) comes, those whose wealth is in fiat money, whether they hold it in physical paper or as digits on a computer screen, will be the biggest losers.