For a large part of the movements across the exchanges are extremely short-term ones reversed within days or even hours and therefore not on all fours with trade or long-term capital movements. 多数跨汇率的变动极其短暂,在几天甚至几小时内就会逆转,因此不能与交易或长期资本变动完全保持一致。
The article discusses that the short-term international capital movements is influenced by the difference of interest rates of two countries, securities prices, exchange rate expectation and macroeconomic expectation. 影响我国国际短期资本流入的因素有利率差异、汇率预期、证券资产价格和宏观经济预期等。