但面临欧洲和美国再次陷入衰退的可能性与日俱增，澳大利亚央行几乎肯定要结束紧缩政策周期，澳元兑美元汇率长期在平价上方波动的趋势也将结束。

But faced with the growing likelihood of recession in Europe and the U. S., the RBA's cycle of tightening policy is almost certainly over, and with it the Aussie dollar's long run above parity.

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例如，英国英镑在1949和1967年两度贬值。即使是固定汇率也允许平价两边在l %的波幅内波动。

For example, Britain devalued sterling in 1949 and again in 1967. and even a fixed rate was allowed to fluctuate within a band of 196 on either side of its parity.

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