Speculative selling of the dollar is close to an all-time high, reckons Stephen Jen at Morgan Stanley.
摩根·斯坦利的斯蒂芬·简(stephen Jen)认为，抛售美元的纪录已经接近有史以来的最高点。
Allowing the dollar to sink is a strategy of 'benign neglect,' says Stephen Jen, a managing director at BlueGold Capital Management LLP in London.
Blue GoldCapitalManagement LLP驻伦敦董事总经理任永力(Stephen Jen)说，让美元走低是“良性忽略”的策略。
Stephen Jen, Morgan Stanley's chief currency economist, claims that joint interventions by the G7 have had a "near perfect record" in turning currencies around.
摩根士丹利的首席货币经济学家Stephen Jen说，G7国家的联合干预曾经有改变货币状况的“几近完美的纪录”。
This liquidity problem is compounded by worries about the default risk of some euro-area sovereign bonds, says Stephen Jen, a currency analyst at Morgan Stanley.
对欧元区某些公债的违约风险之担心更使这一流动性问题雪上加霜—大摩的货币分析师Stephen Jen如是说。
Using a more sophisticated model, Stephen Jen, of Morgan Stanley, reckons that the yen is 12% undervalued against the dollar, whereas the yuan is only 7% too weak.
运用一个更复杂的模型，摩根斯·坦里的Stephen Jen认为日元对美元低估了12%，而人民币则仅是7%。
After analysing bond, equity and credit markets, Stephen Jen of Morgan Stanley recently argued that the risk of recession was only 13%, down from 19% a month before.
在分析了债券、证券和信用市场后，摩根·斯坦利的任永力最近认为，经济衰退威胁的可能性从一个月前的19%下降到只有13%。
Stephen Jen, an economist at Morgan Stanley, argues that Japan's Ministry of Finance should consider selling some of those reserves to break the one-way bet against the yen.
摩根斯坦利的经济学家施蒂芬·詹（Stephen Jen）认为日本的财长应该考虑卖出部分外汇储备以打破针对日元的单向赌博。
The trouble is, securities issued in these currencies are a tiny fraction of those available in the world’s four main currencies, says Stephen Jen of BlueGold Capital, a hedge fund.
但问题是，世界可交易证券中，以这些货币计价发行的证券相对以四大货币计价发行的证劵比例非常小，对冲基金蓝金资本的Stephen Jen指出。
For reserve currencies, what is safe is in conflict with what is convenient, argues Stephen Jen of SLJ Macro Partners, a hedge fund, adding that "the euro is efficient but it's not safe."
对于储备货币，安全和方便在互相冲突，这是对称基金SLJ MacroPartners的Stephen Jen的观点，并补充“欧元的经济效率很好，但并不安全”。
For reserve currencies, what is safe is in conflict with what is convenient, argues Stephen Jen of SLJ Macro Partners, a hedge fund, adding that "the euro is efficient but it's not safe."
对于储备货币，安全和方便在互相冲突，这是对称基金SLJ MacroPartners的Stephen Jen的观点，并补充“欧元的经济效率很好，但并不安全”。
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