As the US dollar rises, weaker yen and euro likely to boost sharemarkets there

With the wild swings in foreign exchange markets this week, it's hardly surprising that investors are asking themselves how they can best position themselves to profit from the global currency wars.

This week saw the euro slide closer to parity with the US dollar, as the European Central Bank started its huge bond-buying program, known as quantitative easing (QE). The aim of the policy is to push down long-term bond yields and to encourage investors to buy riskier assets, which is helping to drive a major rally in European sharemarkets.