As the chart below demonstrates, when the U.S. dollar draws near 2.0 standard deviations from its long-term average, its correction is sharp and the correlation risk to energy stocks is acute. 如下图所示,当美元从长期平均数逐渐接近2.0标准差时,便会开始大幅回调,而能源股的相关风险便会加重。
Faced with strong upward pressure on the Taiwanese dollar, the country's central bank warned overseas investors to remit funds out of the country unless they were planning to invest the money in stocks. 面对强大的新台币上涨压力,台湾央行警告海外投资者,除非准备投资股票,否则必须将资金汇出。
In contrast, the dollar has lost ground when stocks and investor confidence have risen as investors abandon the relative safety of the US currency in search of higher returns elsewhere. 相反,当股市上涨、投资者信心增强时,美元又会下跌,因为投资者为了在其他地方获得更高的回报,而放弃了美元相对的安全性。
Although regional materials and energy stocks have been hit by a slowing world economy and stronger US dollar, signs of stronger US growth have underpinned Asian exporters, particularly technology stocks. 尽管环球经济增长减慢及美元汇价表现强劲,对区内的物料及能源股造成影响,但有迹象显示美国的经济增长转强,因而支持亚洲出口股的表现,特别是科技股。
The slide of the dollar, which fell against the euro and the yen, helped push stocks higher on Tuesday as investors bought riskier assets. 美元的变动,再次使兑换欧元和日元下降,帮助在星期二推高股票,因为投资者购买更具风险的资产。
The EUR traded lower against the Dollar after the release of US NFP, but managed to end the day higher as stocks rebounded. 自美国公布周五非农就业数据之后,欧元兑兑美元下跌,但终因股市的反弹在收盘之际实现走高。
Last week, that concern clarified in traders 'minds and it gave good reason to sell the dollar and US stocks. 上周,交易员们看清了这一利害关系,他们找到了卖出美元和美国股票的良好理由。
The dollar did slip a bit, but gold continued its recent decline – having briefly punctured$ 1,000 per ounce, it has now come back below$ 900 – while stocks largely held on to Tuesday's gain. 美元的确略有走低,但金价延续了近期的跌势在短暂冲破每盎司1000美元关口后,目前已跌至900美元以下而股市则基本上保住了周二上涨的胜利果实。
The dollar fell to an all-time low against Swiss franc while gold touched a record high. Long-dated US Treasury bonds weakened while global stocks remained under pressure. 美元兑瑞士法郎汇率创历史新低,金价则攀上历史新高,美国长期国债走弱,全球股市继续受压。
In recent months, the dollar has benefited when risk averse investors fled falling stock markets, but it has fallen at times of higher risk appetite and rallying stocks. 近几个月来,风险规避型投资者从下跌的股市出逃时,美元受益,但美元风险偏好较高、股市回升之时仍旧下跌。
The euro dropped to a one-year low against the dollar, European stocks plumbed two-month lows, while the bond markets of the weaker eurozone economies fell as rattled investors sought to sell. 欧元兑美元降至一年低位,欧洲股市跌至两个月低位,而欧元区较弱经济体的债市随着慌张的投资者寻求出售而下跌。
In favour of a different correlation is the possibility that the current risk-on-dollar-off relationship may itself have been the aberration. There is no clear, long-term link between the dollar and stocks. 认为出现了一种新联动性的理由是,目前的股市涨美元跌关系本身可能是一种反常表现,美元和股市之间并不存在明确的长期联系。
In such a speculative market, it's unwise to bet your bottom dollar on stocks. 在这样一个投机市场里,把仅有的钱都投在股票上是不明智的。
Bad news from the US spilled over into Asia yesterday, as the falling dollar, subprime jitters and Wall Street losses sent stocks tumbling across the region. 美国市场的坏消息昨日蔓延至亚洲,美元走软、市场对次级抵押贷款危机的不安情绪和华尔街金融机构大幅亏损令该地区股市全面大跌。
If you look at the performance of the Dow Jones Industrial Average and the implied volatility of the dollar, the two are almost a perfect mirror: as stocks rise, dollar volatility is falling and trading interest dropping. 如果你研究一下道琼斯工业平均指数(DowJonesIndustrialAverage)走势以及美元的隐含波动性,就会发现两者存在近乎完美的负相关性:股市上涨,美元波动性就不断减弱、交易兴趣不断下降。
Hong Kong may have pegged its currency to the US dollar, but the renminbi is flavour of the year as the territory pushes for stocks, bonds and other financial products denominated in the mainland currency. 香港或许将主要货币港币盯住了美元,但人民币才是该地区本年度最受欢迎的货币:香港一直在大力推动以人民币计价的股票、债券与其它金融产品的面市。