How much currency instability such a portfolio shift may cause depends on how quickly it takes place.
The lasting question from this bout of currency instability is how long that will remain the case.
Indeed, some economists think that, with the world's two major currencies concentrating exclusively on domestic goals, currency instability might increase.
Experience demonstrates ad nauseam that stable currencies enormously aid economic development and that currency instability is an insidious enemy of economic progress.
Europe was dogged by currency instability from the introduction of floating rates in the early 1970s to the creation of the euro in 1999.
Now that it's out, the money-printing genie cannot be put back in the bottle even if the result may be to consign economies to further years of stagnation, rising debt burdens, fewer opportunities for young people and ultimately the risk of rising inflation and global currency instability.
He would curtail the babble of conflicting statements from governments, which have contributed to the currency's instability.
He said it could increase instability and currency speculation, and greater democratic accountability was needed instead, as well as the break-up of the big banks.
They have yet to fix the instability of a currency union built on an incompatible triad: no bail-out, no default and no exit.
At the very least, the efficiencies created by the greater stability and predictability will release human capital currently devoted to arbitraging the instability of government monopoly currency.
The prime minister said all Europe's economies, whether in the euro or not, needed a swift resolution of the current instability, and the single currency area as a whole needed to act to demonstrate it could "live within its means".
One popular idea for minimising such instability is a more formal system of currency co-operation between the world's major economies.
Currency and financial crises have strong cross-border spillover effects - instability can fairly easily spread even if neighboring countries' economic fundamentals are sound.
CNN: This monetary body would limit Crisis spillover effects
Japanese stocks were dragged down by the yen's sudden rise overnight as fresh fears of European instability-raised by inconclusive Italian elections-revived the currency's old safe-haven status.
Pakistan and Bangladesh had already carried a series of currency devaluations over the last eighteen months, before the current bout of economic instability in the Far East.
Toyota also felt the hit of foreign currency translation, as the yen strengthened on heightened risk aversion as investors sought protection given instability in Europe and a declining U.S. dollar.
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