To explain this, the so called Dollar Smile Hypothesis advanced by Stephen Jen, Morgan Stanley's currency strategist, is useful. This held that the dollar had a “convex” relationship to US economic growth.
美元在微笑。美元贸易加权指数今年的曲线图看起来像是在微笑——下挫7%，然后是一条长长的持平曲线，随后在过去数周上涨10%，向上翘起形成一张咧开的大嘴。如今，美元汇率已较去年底有所上升。
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