然后深入讨论了其外汇干预失效的原因，并从中得出了对我国的几点启示。
Then a deep exploration into the reasons why the intervention fails and obtains several enlightenments to our country is made.
在三者的动态博弈中，外汇干预是非冲销和有效性得到验证，外汇干预信号的假设可以成立。
Among the three factors'dynamic relevancies, the unsterilized nature and effectiveness of foreign intervention were verified.
尽管日本市场本周有两天适逢假期休市，但新一轮外汇干预仍有可能出现，这让市场保持戒慎。
Although Japanese markets will be closed for holidays on two days next week, another round of foreign exchange intervention could still be forthcoming and will keep markets on edge.
该国的经济很可能处于进入衰退的第五个季度，加拿大皇家银行认为，新西兰央行逼不得已可能也会诉诸于外汇干预。
The economy is probably in its fifth quarter of recession and the Royal bank of Canada thinks the New Zealand central bank may have to resort to foreign-exchange intervention.
日本上一次干预外汇市场还是在2003年底和2004年初，当时该国抛售了数额巨大的日圆，最终成功压低了日圆。
Japan last intervened in the currency markets in late 2003 and early 2004, when it sold massive amounts of yen, which ultimately succeeded at weakening the currency.
许多新兴经济体在外汇市场中进行大规模干预，主要为了维持较高的出口竞争力及压低经常账户赤字。
Many emerging economies have intervened in currency markets on a huge scale, principally in order to keep export competitiveness up and current account deficits down.
外汇市场的联合干预应该会阻止或扭转欧元继续大跌。
Joint intervention in exchange markets should prevent or reverse any significant further fall in the euro.
主权财富基金的经理们未来可能亦会与中央银行打成一团，中央银行的业务就是要干预外汇市场以防止通货币值大幅震荡。
The managers of such a fund might also come to blows with the Central Bank, where practice has been to intervene in foreign-exchange markets to prevent wild swings in the value of the currency.
在它们告诫中国要停止干预外汇市场的几年之后，G 7国家很尴尬的开始要向它的成员国承认，它们需要干预汇市。
After years of telling China to stop meddling in the foreign-exchange market, the G7 could find it embarrassing to admit that its members want to intervene themselves.
很多国家的央行都通过干预外汇市场来管理汇率。
Central Banks in many countries intervene in currency markets to manage exchange rates.
“操纵”人民币汇率不仅仅是干预外汇，中国也采取了严格的资本管制，以阻止私有储蓄外流，尽管这种管制也有漏洞。
Currency "manipulation" amounts to more than foreign-exchange intervention; China also has strict capital controls which, although leaky, keep private savings at home.
这些国家或许会选择干预外汇市场阻止他们的货币升值。
Alternatively countries may choose to intervene in the foreign-exchange markets to prevent their currencies from rising.
一国对货币市场干预的最重要的指标是其外汇储备水平。
The main indicator of a country's intervention in currency markets is its level of foreign reserves.
要保持汇率稳定，央行就不得不动用基础货币来干预外汇。
To maintain the exchange rate stability, the central bank would have to use base money to intervene in the foreign exchange.
日本、韩国和巴西等国正在外汇市场进行单边干预。
Countries such as Japan, Korea and Brazil are intervening unilaterally in currency markets.
过去的一周中，巴西被迫两度干预外汇市场，以避免巴西雷亚尔兑美元升值过快。
Brazil was forced to intervene in its currency market twice in the past week to prevent its currency, the real, from strengthening too quickly against the dollar.
美元今年急速下滑引起人们开始推测，央行可能马上就会对外汇市场进行干预，以支持有些病态的货币。
THE dollar's steep drop this year has triggered speculation that central banks may soon intervene in the foreign-exchange markets to prop up the sickly currency.
比如印度似乎没有对外汇市场进行太多干预，但是它的货币去年也没有大的变动。
India, for example, seems not to have intervened much in the foreign-exchange market, but its currency has not moved much over the past year either.
比如印度似乎没有对外汇市场进行太多干预，但是它的货币去年也没有大的变动。
India, for example, seems not to have intervened much in the foreign-exchange market, but its currency has not moved much over the past year either.
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