This was because the companies held derivatives contracts – and while these had seemed safe when the dollar was weak, they unexpectedly produced losses after the Lehman shock because nobody had expected currencies to swing so wildly. 这是因为这些公司持有衍生品合约。尽管当美元汇率较低时,这些合约看来是安全的,但雷曼冲击波来袭后,它们意想不到地带来亏损,因为谁也没想到汇率波动幅度竟如此之大。
With the dollar set to remain weak, the likes of Japan and Brazil may intervene in markets to limit wild swings in their currencies and protect exports. 鉴于美元势必将保持弱势,日本和巴西等国可能会干预外汇市场,以限制本币汇率过度波动,保护出口。
Weak currencies and still-present inflation notwithstanding, the odds of interest rate cuts are rising in both countries. 尽管货币疲软且通胀压力仍存,但两国降息的几率正不断上升。
Then, after the US credit crunch of July 2008, the weak dollar became the strong dollar: the surprise 20 to 30 per cent dollar appreciation against all major currencies, except the Japanese yen, that is still with us. 然后,在2008年7月美国发生信贷紧缩后,弱势美元成了强势美元:美元对除日元外的所有主要货币意外升值20%至30%,并且至今仍保持强势。
The growth of indebtedness of the weak euro currencies to the strong has already happened and is continuing. “软欧元”国家对“硬欧元”国家的负债已经出现上升,而且这一趋势还在继续。
Weak oil prices and depreciating commodity currencies such as the Australian dollar have thrown some small and midsized producers a lifeline. 油价疲软、澳元等大宗商品出口国货币贬值,给了一些中小型生产商一线生机。
Currency speculators are betting on an end-of-year rally in emerging markets, as the weak dollar fuels a revival of carry trades in higher yielding currencies. 外汇投机者正押注于新兴市场货币将在年底反弹,因疲弱美元重新引燃了收益率较高货币的利差交易。
If global policymakers do not realise this, bubbles are likely to proliferate through carry trade from the US and other countries with minimal interest rates and weak currencies. 如果全球决策者没有意识到这点,那么泡沫可能会通过源自美国和其它利率极低且货币疲软的国家的利差交易而扩大。
He said the combination of a weak dollar and yen with higher commodity currencies despite muted performances by oil and gold depicted a clear lessening of risk aversion. 他表示,疲软的美元与日元,加之走高的大宗商品国家货币尽管石油和黄金价格平平描绘出了一幅风险厌恶明显减轻的景况。
The weak yen continued to exert downward pressure on regional currencies. 日圆疲弱,区内其它货币面临贬值压力。
Gold has become a reference point because holders of money see weak or uncertain growth prospects in all currencies other than the renminbi, and the renminbi is not free for exchange. 黄金已经变成了一种参照基准,因为货币持有者认为,除人民币以外,所有货币的增长前景都较为黯淡或不确定,而人民币不可以自由兑换。
This crisis began with currency crisis, that is, continuous overvaluation of the currencies in this area gave hedging funds great opportunities to crash the weak currencies, which led to the crisis. 此次危机的爆发点是货币危机:该地区货币多年始终存在的汇率高估给四处寻找获利机会的对冲基金制造前所未有的机会,从而导致了危机的发生。