FX currency Wars - A major South America FX intervention on the cards (update 1)

Get ready for a week (starting from the 4th October 2010) of massive South American central bank intervention

Colombian Peso: @1797 multi month high (vsUSD)
Brazilian Real: @16802 multi month high (vsUSD)

A devaluation spill over effect from South America will lead to major Asia FX intervention; more specifically Japan.

Could get very out of hand if trading is hedged on EUR bids as opposed to short positions on everything else as European exports markets will now be effected by a strong Euro.