If the world is on the brink of an out-and-out currency war, a variety of battalions has been out on manoeuvres in the past few weeks. The Bank of Japan, after six years off the battlefield, has launched a fusillade of intervention to hold down the yen in foreign exchange markets. Brazil used the guerrilla tactic of doubling taxes on capital inflows to stop the real surging. India and Thailand warned that they too might bring heavy ordnance into play.
如果世界正瀕臨一場不折不扣的匯率戰爭，那么可以說，各個陣營過去幾周已紛紛出動，調兵遣將。遠離戰場6年之久的日本央行(Bank of Japan)連續出手干涉，在外匯市場上壓低日元匯率。巴西采用了游擊戰術，將資本流入稅提高了一倍，以遏制雷亞爾急劇升值。印度與泰國警告，它們也可能會動用重型武器。
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