\u7f8e\u570b\u5df2\u66ab\u505c\u5411\u4f0a\u62c9\u514b\u904b\u9001\u7f8e\u5143\u73fe\u9214\uff0c\u4e26\u51cd\u7d50\u8ecd\u4e8b\u8207\u5b89\u5168\u5408\u4f5c\u8a08\u5283\u3002\u6b64\u8209\u65e8\u5728\u65bd\u58d3\u5df4\u683c\u9054\uff0c\u8981\u6c42\u5176\u6253\u64ca\u5728\u4f0a\u62c9\u514b\u6d3b\u52d5\u7684\u4f0a\u6717\u6c11\u5175\uff08\u7531\u4f0a\u6717\u652f\u6301\u3001\u5728\u7576\u5730\u4ee5\u6b66\u88dd\u529b\u91cf\u904b\u4f5c\u7684\u5718\u9ad4\uff09\u3002<\/p>\n
\u7f8e\u570b\u8ca1\u653f\u90e8\u9577\u8c9d\u68ee\u7279\uff08Bessent\uff09\u8868\u793a\uff0c\u591a\u500b\u6d77\u7063\u53ca\u4e9e\u6d32\u76df\u53cb\uff08\u4e0d\u53ea\u963f\u806f\u914b\uff09\u5df2\u8981\u6c42\u5efa\u7acb\u7f8e\u5143\u4e92\u63db\u984d\u5ea6\uff08dollar swap lines\uff1a\u7531\u7f8e\u570b\u806f\u5132\u5c40\uff0f\u7f8e\u65b9\u6a5f\u69cb\u5411\u5c0d\u65b9\u592e\u884c\u63d0\u4f9b\u7f8e\u5143\u8cc7\u91d1\u6e20\u9053\uff0c\u8b93\u5c0d\u65b9\u5728\u5e02\u5834\u7f8e\u5143\u77ed\u7f3a\u6642\u53ef\u501f\u5230\u7f8e\u5143\uff0c\u4ee5\u7a69\u5b9a\u91d1\u878d\u5e02\u5834\u6d41\u52d5\u6027\uff09\u3002\u9019\u610f\u5473\u7f8e\u5143\u6d41\u52d5\u6027\uff08USD liquidity\uff1a\u5e02\u5834\u4e0a\u53ef\u501f\u7528\u3001\u53ef\u4ea4\u6613\u7684\u7f8e\u5143\u8cc7\u91d1\uff09\u6216\u51fa\u73fe\u65b0\u4f9b\u61c9\u6e20\u9053\uff0c\u4e0d\u518d\u53ea\u9650\u65bc\u50b3\u7d71\u9577\u671f\u5925\u4f34\u5708\u5b50\u3002<\/p>\n
\u50b3\u7d71\u5916\u532f\u57fa\u6e96\u8ca8\u5e63\u5c0d\uff08FX reference pairs\uff1a\u5e02\u5834\u6700\u5e38\u7528\u4f5c\u5831\u50f9\u8207\u4ea4\u6613\u53c3\u8003\u7684\u8ca8\u5e63\u7d44\u5408\uff09\u5982\u6b50\u5143\u514c\u7f8e\u5143\uff08EUR\/USD\uff09\u3001\u82f1\u938a\u514c\u7f8e\u5143\uff08GBP\/USD\uff09\u53ca\u7f8e\u5143\u514c\u65e5\u5713\uff08USD\/JPY\uff09\uff0c\u88ab\u5f62\u5bb9\u70ba\u5c0d\u5e02\u5834\u7126\u9ede\u7684\u91cd\u8981\u6027\u4e0b\u964d\u3002\u76f8\u95dc\u8f49\u8b8a\u8207\u5168\u7403\u7d93\u6fdf\u66f4\u4f9d\u8cf4\u8cc7\u6e90\uff08\u80fd\u6e90\u8207\u91d1\u5c6c\u7b49\u5927\u5b97\u5546\u54c1\uff09\u3001\u5de5\u696d\u751f\u7522\uff0c\u4ee5\u53ca\u4eba\u5de5\u667a\u80fd\uff08AI\uff1a\u4ee5\u6f14\u7b97\u6cd5\u8207\u904b\u7b97\u80fd\u529b\u8655\u7406\u6578\u64da\u3001\u63d0\u5347\u81ea\u52d5\u5316\u8207\u751f\u7522\u6548\u7387\u7684\u6280\u8853\uff09\u6709\u95dc\u3002<\/p>\n
\u4e0a\u8ff0\u505a\u6cd5\u4ea6\u64f4\u5927\u6f5b\u5728\u4e92\u63db\u984d\u5ea6\u53d7\u60e0\u8005\u540d\u55ae\uff0c\u8d85\u51fa\u82f1\u570b\u3001\u6b50\u6d32\u53ca\u65e5\u672c\u7b49\u50b3\u7d71\u5c0d\u8c61\uff0c\u4e26\u5c07\u7f8e\u5143\u652f\u6301\u66f4\u660e\u78ba\u5730\u8207\u7f8e\u570b\u653f\u7b56\u9078\u64c7\u639b\u920e\uff0c\u800c\u975e\u5efa\u57fa\u65bc\u65e2\u6709\u7684\u5168\u7403\u5354\u4f5c\u5b89\u6392\u3002<\/p>\n
\u76f8\u95dc\u63aa\u65bd\u6700\u7d42\u6548\u679c\u4ecd\u4e0d\u660e\u6717\u3002\u6587\u672c\u63d0\u5230\uff0c\u5f8c\u7e8c\u6216\u51fa\u73fe\u7d93\u6fdf\u5c64\u9762\u5f71\u97ff\u3002<\/p>\n
\u6587\u7ae0\u7a31\u5167\u5bb9\u5728AI\u5de5\u5177\u5354\u52a9\u4e0b\u88fd\u4f5c\uff0c\u4e26\u7531\u7de8\u8f2f\u5be9\u95b1\u3002<\/p>\n
\u5e02\u5834\u4ea6\u89c0\u5bdf\u5230\uff0c\u50b3\u7d71\u8ca8\u5e63\u57fa\u6e96\u4f8b\u5982EUR\/USD\u7684\u300c\u6307\u6a19\u4f5c\u7528\u300d\uff08predictive power\uff1a\u5c0d\u672a\u4f86\u8d70\u52e2\u7684\u53c3\u8003\u8207\u9810\u6e2c\u80fd\u529b\uff09\u6b63\u5728\u6e1b\u5f31\u3002\u7f8e\u570b\u653f\u7b56\u884c\u52d5\u2014\u2014\u4f8b\u5982\u8fd1\u671f\u628a\u7f8e\u5143\u4e92\u63db\u984d\u5ea6\u64f4\u5c55\u81f3\u90e8\u5206\u6d77\u7063\u53ca\u4e9e\u6d32\u95dc\u9375\u76df\u53cb\u2014\u2014\u6b63\u6210\u70ba\u63a8\u52d5\u7f8e\u5143\u8d70\u5f37\u7684\u4e3b\u8981\u56e0\u7d20\u3002\u9019\u4ee4\u5e02\u5834\u7126\u9ede\u7531\u55ae\u7d14\u7d93\u6fdf\u6578\u64da\uff0c\u8f49\u5411\u5730\u7de3\u653f\u6cbb\u7b56\u7565\uff08geopolitical strategy\uff1a\u4ee5\u570b\u5bb6\u5b89\u5168\u3001\u76df\u53cb\u95dc\u4fc2\u8207\u5340\u57df\u5c40\u52e2\u4f5c\u70ba\u653f\u7b56\u8207\u8cc7\u91d1\u5b89\u6392\u7684\u6838\u5fc3\u8003\u91cf\uff09\u3002<\/p>\n
\u5f71\u97ff\u5728\u6ce2\u52d5\u5e02\u5834\uff08volatility markets\uff1a\u4ea4\u6613\u6216\u5b9a\u50f9\u300c\u50f9\u683c\u4e0a\u4e0b\u6ce2\u5e45\u300d\u7684\u5e02\u5834\uff0c\u5982\u671f\u6b0a\u5e02\u5834\uff09\u5c24\u70ba\u660e\u986f\uff1a\u8ca8\u5e63\u6ce2\u52d5\u6307\u6578\uff08currency volatility indices\uff1a\u53cd\u6620\u5e02\u5834\u9810\u671f\u532f\u50f9\u672a\u4f86\u6ce2\u5e45\u7684\u6307\u6a19\uff09\u57282026\u5e74\u521d\u4e00\u76f4\u7dad\u6301\u5728\u8f032025\u5e74\u5e73\u5747\u6c34\u5e73\u9ad815%\u7684\u6c34\u5e73\u3002\u4f8b\u5982\uff0c\u4e0a\u5468\u5357\u6d77\u7dca\u5f35\u5347\u6eab\u6642\uff0c\u5373\u4f7f\u7f8e\u570b\u570b\u50b5\u5b73\u606f\uff08bond yields\uff1a\u50b5\u5238\u56de\u5831\u7387\uff0c\u5e38\u7528\u4f5c\u8861\u91cf\u5229\u7387\u8207\u8cc7\u91d1\u6210\u672c\uff09\u4e0b\u8dcc\uff0c\u7f8e\u5143\u4ecd\u5c0d\u4e00\u7c43\u5b50\u8ca8\u5e63\uff08basket of currencies\uff1a\u4ee5\u591a\u7a2e\u8ca8\u5e63\u52a0\u6b0a\u7d44\u6210\u7684\u6bd4\u8f03\u7d44\u5408\uff09\u8f49\u5f37\u3002\u9019\u7a2e\u80cc\u96e2\u53cd\u6620\u7f8e\u5143\u4ea4\u6613\u908f\u8f2f\u66f4\u504f\u5411\u300c\u6230\u7565\u6027\u907f\u96aa\u9700\u6c42\u300d\uff08safe-haven demand\uff1a\u5728\u98a8\u96aa\u4e8b\u4ef6\u4e0b\u8cc7\u91d1\u6d41\u5165\u88ab\u8996\u70ba\u8f03\u5b89\u5168\u8cc7\u7522\u6216\u8ca8\u5e63\uff09\uff0c\u800c\u975e\u7d14\u7cb9\u7531\u7d93\u6fdf\u8868\u73fe\u4e3b\u5c0e\u3002<\/p>\n
\u9019\u7a2e\u8f49\u5411\u57282025\u5e74\u5df2\u898b\u7aef\u502a\uff0c\u7576\u6642\u300c\u53bb\u7f8e\u5143\u5316\u300d\uff08de-dollarization\uff1a\u6e1b\u5c11\u5728\u8cbf\u6613\u3001\u5132\u5099\u8207\u91d1\u878d\u7d50\u7b97\u4e2d\u5c0d\u7f8e\u5143\u7684\u4f9d\u8cf4\uff09\u7684\u8a0e\u8ad6\u983b\u7e41\u3002\u7136\u800c\uff0c\u7f8e\u570b\u7684\u300c\u7d93\u6fdf\u6cbb\u570b\u624b\u6bb5\u300d\uff08economic statecraft\uff1a\u628a\u91d1\u878d\u5de5\u5177\u3001\u8cc7\u91d1\u4f9b\u61c9\u8207\u7d93\u6fdf\u5b89\u6392\u7528\u4f5c\u5916\u4ea4\u8207\u5b89\u5168\u7b56\u7565\uff09\u900f\u904e\u9078\u64c7\u6027\u5411\u6230\u7565\u5925\u4f34\u63d0\u4f9b\u7f8e\u5143\u6d41\u52d5\u6027\uff0c\u524a\u5f31\u53bb\u7f8e\u5143\u5316\u8da8\u52e2\uff0c\u4e26\u978f\u56fa\u7f8e\u5143\u6838\u5fc3\u5730\u4f4d\u3002\u7531\u6b64\u5f62\u6210\u5206\u5316\uff1a\u8207\u7f8e\u570b\u5229\u76ca\u4e00\u81f4\u7684\u570b\u5bb6\u53ef\u8f03\u7a69\u5b9a\u53d6\u5f97\u7f8e\u5143\u8cc7\u91d1\uff0c\u5176\u4ed6\u570b\u5bb6\u5247\u9762\u5c0d\u66f4\u9ad8\u4e0d\u78ba\u5b9a\u6027\u3002<\/p>\n
\u5c0d\u884d\u751f\u54c1\u4ea4\u6613\u54e1\uff08derivative traders\uff1a\u8cb7\u8ce3\u671f\u6b0a\u3001\u671f\u8ca8\u3001\u6389\u671f\u7b49\u300c\u50f9\u503c\u4f86\u81ea\u5176\u4ed6\u8cc7\u7522\u300d\u7684\u5408\u7d04\u7684\u4eba\uff09\u800c\u8a00\uff0c\u9019\u610f\u5473\u5927\u578b\u8ca8\u5e63\u5c0d\u7684\u300c\u505a\u591a\u6ce2\u5e45\u300d\u7b56\u7565\uff08long-volatility\uff1a\u62bc\u6ce8\u672a\u4f86\u6ce2\u52d5\u52a0\u5927\uff0c\u5e38\u898b\u505a\u6cd5\u662f\u8cb7\u5165\u671f\u6b0a\u6216\u6ce2\u5e45\u76f8\u95dc\u7522\u54c1\uff09\u53ef\u80fd\u66f4\u6709\u5229\uff0c\u56e0\u653f\u6cbb\u516c\u544a\u6216\u6301\u7e8c\u5f15\u767c\u6025\u5347\u6025\u8dcc\u3001\u96e3\u4ee5\u9810\u6e2c\u7684\u8d70\u52e2\u3002\u6b64\u5916\uff0c\u76f8\u8f03\u4ea4\u6613\u50b3\u7d71G3\u8ca8\u5e63\uff08G3 currencies\uff1a\u7f8e\u5143\u3001\u6b50\u5143\u3001\u65e5\u5713\u7b49\u4e3b\u8981\u5df2\u767c\u5c55\u5e02\u5834\u8ca8\u5e63\uff09\uff0c\u8cc7\u6e90\u51fa\u53e3\u570b\u8ca8\u5e63\uff08resource-producing nations\uff1a\u4ee5\u80fd\u6e90\u3001\u91d1\u5c6c\u3001\u8fb2\u7522\u54c1\u51fa\u53e3\u70ba\u4e3b\u7684\u570b\u5bb6\u8ca8\u5e63\uff09\u6216\u66f4\u5177\u6a5f\u6703\u3002\u6587\u4e2d\u63d0\u5230\uff0c\u67d0\u4e9e\u6d32\u76df\u53cb\u516c\u5e03\u65b0\u7684\u5de5\u696d\u5408\u4f5c\u5f8c\uff0c\u9285\u671f\u8ca8\uff08copper futures\uff1a\u4ee5\u672a\u4f86\u4ea4\u6536\u9285\u70ba\u6a19\u7684\u7684\u5408\u7d04\uff09\u6025\u534712%\uff0c\u53cd\u6620\u570b\u5bb6\u7b56\u7565\u8207\u5546\u54c1\u6d41\u5411\u4e4b\u9593\u7684\u95dc\u806f\u66f4\u76f4\u63a5\u3002<\/p>\n
\u5728\u6b64\u74b0\u5883\u4e0b\uff0c\u6a21\u578b\uff08models\uff1a\u7528\u6578\u64da\u8207\u5047\u8a2d\u63a8\u7b97\u532f\u7387\u6216\u5e02\u5834\u8d70\u52e2\u7684\u5206\u6790\u65b9\u6cd5\uff09\u9700\u66f4\u91cd\u8996\u5de5\u696d\u751f\u7522\u6578\u64da\u8207\u4f9b\u61c9\u93c8\u5b89\u5168\uff08supply chain security\uff1a\u78ba\u4fdd\u95dc\u9375\u539f\u6599\u8207\u96f6\u4ef6\u4f9b\u61c9\u7a69\u5b9a\u3001\u514d\u53d7\u5730\u7de3\u98a8\u96aa\u5e72\u64fe\uff09\uff0c\u800c\u975e\u53ea\u770b\u901a\u8139\u6216\u5c31\u696d\u3002\u7f8e\u5143\u50f9\u503c\u6b63\u66f4\u53d6\u6c7a\u65bc\u54ea\u4e9b\u570b\u5bb6\u80fd\u53d6\u5f97\u8cc7\u6e90\u4e26\u751f\u7522\u95dc\u9375\u7269\u8cc7\uff1b\u56e0\u6b64\uff0c\u9810\u5224\u7f8e\u570b\u4e0b\u4e00\u6b65\u6230\u7565\u52d5\u4f5c\uff0c\u6bd4\u9810\u6e2c\u4e0b\u4e00\u6b21\u592e\u884c\u6c7a\u5b9a\u66f4\u95dc\u9375\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"
\u8377\u862d\u5408\u4f5c\u9280\u884cMichael Every\u6307\u51fa\uff0c\u7f8e\u570b\u900f\u904e\u4f0a\u62c9\u514b\u66ab\u505c\u51fa\u8ca8\u3001\u63a8\u51fa\u65b0\u4e92\u63db\u5b89\u6392\u7b49\u300c\u7d93\u6fdf\u6cbb\u570b\u300d\u624b\u6bb5\u7a69\u4f4f\u91d1\u878d\u79e9\u5e8f\uff0c\u6210\u70ba\u7f8e\u5143\u8d70\u5f37\u95dc\u9375\u63a8\u529b\uff0c\u5e02\u5834\u9700\u8b66\u60d5\u5f8c\u7e8c\u653f\u7b56\u52a0\u78bc\u3002<\/p>\n","protected":false},"author":87,"featured_media":0,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4],"tags":[],"class_list":["post-45791","post","type-post","status-publish","format-standard","hentry","category-live-updates"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/zh-ca\/wp-json\/wp\/v2\/posts\/45791","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/zh-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/zh-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/zh-ca\/wp-json\/wp\/v2\/users\/87"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/zh-ca\/wp-json\/wp\/v2\/comments?post=45791"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/zh-ca\/wp-json\/wp\/v2\/posts\/45791\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/zh-ca\/wp-json\/wp\/v2\/media?parent=45791"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/zh-ca\/wp-json\/wp\/v2\/categories?post=45791"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/zh-ca\/wp-json\/wp\/v2\/tags?post=45791"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}