The JPY is treated by investors as a mini safe haven in times of risk aversion, which has enabled it to remain stable against the USD and strengthen against the EUR.
日元在风险规避时往往被投资者看作一个小型的安全天堂,这使得日元对美元能够保持平稳并且对欧元能够稳步强势。
In the short term, the USD could continue to depreciate against the GBP and EUR, but these currencies look increasingly expensive on valuation terms.
短期而言,美元还会对英镑和欧元贬值,不过从估值角度来看这些货币已经越来越昂贵。
To further illustrate this point, let's assume that the only currency that moves is USD, while the two other currencies (JPY and EUR) remain flat.
为了进一步解释这一点,我们假设只有美元是波动的,另两种货币(日元和欧元)保持不变。
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