In a world where most of the major and important junior and emerging market currencies float against one another (with China's manipulated currency being the major exception) it is just stupid to call what is going on in the world "Currency Wars."
This recent infatuation with term "Currency Wars" reminds me of the time a conservative magazine sent a reporter to the US Congress to ask several US Representatives about the fighting and threats to the United States from "Anaboookastan" or some such fabricated country. To a man they were all "very concerned" about the fighting there and would do "all they could" to see the United States was prepared to take action.
Newspapers, websites, and financial newsletter writers love infatuations; it is their bread and butter. And now the hot topic is the fictional phrase "Currency Wars."