If the world is on the brink of an out-and-out currency war, a variety of battalions has been out on manoeuvres in the past few weeks. The Bank of Japan, after six years off the battlefield, has launched a fusillade of intervention to hold down the yen in foreign exchange markets. Brazil used the guerrilla tactic of doubling taxes on capital inflows to stop the real surging. India and Thailand warned that they too might bring heavy ordnance into play.
如果世界正濒临一场不折不扣的汇率战争，那么可以说，各个阵营过去几周已纷纷出动，调兵遣将。远离战场6年之久的日本央行(Bank of Japan)连续出手干涉，在外汇市场上压低日元汇率。巴西采用了游击战术，将资本流入税提高了一倍，以遏制雷亚尔急剧升值。印度与泰国警告，它们也可能会动用重型武器。
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