But it also reflects herd behaviour in financial markets.
但这也反映出了金融市场的羊群效应。
Exchange rates often provide useful warnings about emerging imbalances, but overconfidence and herd behaviour weakened the signal.
汇率通常会对正在出现的不平衡提出警告，但过度自信和群体行为则削弱了这一信号。
Herd behaviour in stock market means that investors ignore their private information and imitate others when making investment decisions.
股票市场中的羊群行为是指各类投资者忽略私有信息、相互模仿投资决策的现象。
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