Before the intervention, the real yen-dollar exchange rate index was at 100.2.

干预之前，日元对美元的真实汇率指数在100.2。

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The main problem of the intervention to foreign exchange market is whether charge against intervention and non-charge against intervention can affect exchange rate.

外汇市场干预的中心问题，就是冲销干预和非冲销干预是否影响汇率以及如何影响汇率的问题。

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Categories of target zone system of exchange rate depend on different intervention of the central bank.

中央银行外汇市场干预的不同决定了汇率目标区制中类型的不同。

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Floating the yuan would also relieve the monetary authorities of self-defeating exchange rate intervention.

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With the nominal exchange rate held down by intervention, this could only come about through a rise in prices, creating expectations of future inflation and so reducing real interest rates.

ECONOMIST: The yen

Indeed, studies have shown that even when emerging-market economies say they are floating (as Malaysia, for example, used to), they tend to rely more heavily than the industrial countries do on interest-rate policy and foreign-exchange market intervention to limit actual movements in the exchange rate.

ECONOMIST: Spoilt for choice | The