It also explains the sustained appreciation of the Australian dollar, which has strengthened markedly since the start of the year.

息差还能解释澳元的持续升值(自今年年初以来呈愈演愈烈之势)。

youdao

According to the traditional finance theory, continuous surplus of current account and sustained increase of foreign exchange reserves will result in the appreciation of Chinese RMB Yuan.

根据传统的金融理论，经常项目持续顺差与外汇储备的持续增长应该使人民币升值。

youdao

It also explains the sustained appreciation of the Australian dollar, which has strengthened markedly since the start of the year.

ECONOMIST: Currencies

Over the long term, that compounded coupon is likely to be a larger component of overall total return than even sustained price appreciation, substantially smoothing over daily price fluctuations.

FORBES: Muni Bond Manager's Journal: Coupon Power Compounded