In the absence of a world war, and with the football World Cup a distant memory, it seems that hopes and fears are now projected on to international currency markets. The yen’s advance is unstoppable. Watch out, the euro is about to break up. The American dollar is in terminal retreat. That investors lurch wildly among alternative views on a monthly basis is perhaps predictable, given broader uncertainties. Still, everyone should calm down.
由于没有世界大战，而足球世界杯已成为遥远的记忆，人们的希望和恐惧似乎只能投射到国际外汇市场。日元升值势不可挡，欧元濒临崩溃，美元一退再退。由于有着更广泛的不确定性，投资者每个月都会在各种观点之间大幅摇摆，倒也不出意料。然而，每个人都应该冷静下来。
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