Looking back on three months’ worth of extreme market volatility it is clear that global currency wars have entered a new and more complicated phase. In effect, volatility has neutered the power of those central banks that have been most committed to weakening their currencies. The Bank of Japan provides the most notable example of impotence.
回顧持續3個月之久的極端市場波動，可以看出全球貨幣戰顯然進入了一個更加複雜的新階段。實際上，市場波動已經讓那些最堅定地致力於本幣貶值的央行失去了戰鬥力。彰顯這種無能爲力的最顯著的例子就是日本央行(BoJ)。
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