The singular focus on the exchange rate appears based on the assumption that it is the key cause of the surplus and the main policy instrument for removing it.

把注意力完全集中在汇率上面，似乎是基于以下假设：它是盈余的主要根源，也是消除盈余的主要政策工具。

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The best policy instrument is the exchange rate.

最有效的政策工具是汇率。

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"Exchange-rate policy is, from our point of view, not an appropriate instrument to increase competitiveness, " said German government spokesman Steffen Seibert.

WSJ: France, Germany Face Relationship Test

The most potent criticism is that aiming for exchange-rate stability compromises the central bank in its task of controlling inflation one instrument (monetary policy) is being asked to do two things.

ECONOMIST: Off target