In all the other cases fiscal policy either had no discernible exchange rate effect or it was the expansion of the deficit that caused the exchange rate to fall.

在其余案例中，要么看不出财政政策对汇率产生影响，要么反而是赤字扩大导致汇率下跌。

youdao

This paper tries to analyze the disadvantage influence on Chinese economy by studying the American double deficits via interest effect, exchange rate effect and …

本文分析了美国“双赤字”通过利率效应、汇率效应以及利率汇率综合效应对中国经济的不利影响，并在此基础上提出了相关政策建议。

youdao

Although the RMB yuan was fixed against the us dollar for several years, it has been fluctuating against the Korean won, which provides us with a natural experiment to test the exchange rate effect.

虽然人民币汇率制度在很长一段时间都是紧盯美元的，但它对韩元一直是波动的，这为我们提供了一个自然实验去测试汇率制度的影响。

youdao

Third, there is an exchange-rate effect: a rise in interest rates pushes up the currency and so squeezes exports.

ECONOMIST: Can one size fit all?

On a constant-exchange-rate basis excluding the effect of translating foreign-currency-denominated sales into U.S. dollars, worldwide net sales rose 6 percent and same store sales increased 4 percent.

FORBES: Tiffany Worldwide Holiday Sales Up 7% Led by Growth in Asia

At the moment, it doesn't appear that the dollar-yuan exchange rate is having an enormously harmful effect on the broad U.S. economy.

FORBES: Magazine Article