At this time, the price is not decided by normal consumers and producers but by speculators.

这时候价格不是由正常的消费者和生产者决定，而是由投机者决定。

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But in floating exchange rate markets, speculators can only make money if they help to stabilise the market, not if they make it more unstable.

但是在浮动汇率市场上，投机商若要赚钱，只有帮助稳定市场而不是使市场更加动荡。

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Usually that is meant to refer to western speculators, but it is equally true in China.

通常这指的是西方投机者，但在中国越来越同样如此。

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But speculators ultimately are beholden to the same economic forces as everybody else.

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There are instances of early buyers flipping these brand-name condos for a profit, but speculators who come late to the party are unlikely to do so well.

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But speculators could suddenly lose faith in the U.S. dollar.

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