人民币汇率中间价降至五年低点

 China’s central bank set its daily currency “fix” at the lowest level in five years, tracking a weaker market price as the dollar rally took its toll¹ on the renminbi.

中国央行将每日人民币汇率中间价定在五年来的最低水平，以追踪较为疲软的市场汇率。目前，美元的反弹正令人民币汇率承压。

The greenback has gained against a range of global currencies since minutes from the Federal Reserve's recent meeting raised the likelihood of an interest rate rise as early as June or July.

由于美联储(Fed)近期会议的纪要内容加大了最早于6月或7月加息的可能性，美元相对一系列全球货币出现升值。

On Wednesday the People’s Bank of China set the fix 0.34 per cent below the previous day’s, in line with its commitment in August to set guidance based on the previous day’s spot close and the dollar’s moves against other global currencies.

周三，中国央行将当日人民币汇率中间价定在比前一日低0.34%的水平，此举符合该行去年8月作出的承诺。该行当时承诺，要依据前一日即期汇率收盘价和美元相对其他全球货币的走势来设定人民币汇率中间价。

After touching² its weakest level in nearly four months on Wednesday morning, the onshore spot rate closed essentially³ flat. Traders said they suspected that the central bank had intervened modestly to prevent a sharp fall in the spot rate.

在周三上午触及将近四个月来的低点后，在岸人民币即期汇率收盘价与开盘价基本持平。交易员们表示，他们怀疑中国央行已适度出手干预，以防止人民币即期汇率大幅下跌。

Foreign investors⁴ have struggled to interpret China's exchange rate policy since last August, when the central bank changed the way it sets it daily guidance for the currency to track market prices rather than dictate⁵ them.

去年8月，中国央行改变了人民币汇率中间价设定方式，以追踪市场走势而不是指挥市场。自那以来，如何解读中国的汇率政策一直令外国投资者大伤脑筋。

Local market participants broadly agree the renminbi is significantly more market-driven now than it was before the change. Shifting expectations about the timing⁶ of the next Fed interest-rate rise — rather than PBoC policy — are now the main force buffeting⁷ the renminbi, traders say.

当地的市场参与者普遍认同一点：与那次汇改前相比，如今人民币汇率受市场影响的程度要大得多。交易员们表示，如今左右人民币汇率的，是人们不断改变的、对美联储(Fed)加息时点的预期，而不是中国央行的政策。

“The PBoC’s FX reserves have been stable and exchange rate depreciation⁸ expectations have ebbed⁹. But the yuan’s twin outflows of foreign investors unwinding carry trades and local firms paying FX debts have continued,” Mansoor Mohi-Uddin, senior market strategist at Royal Bank of Scotland in Singapore, wrote on Wednesday. “Both are now set to flare¹⁰ up again as the Fed gets ready to hike rates this summer.”

周三，苏格兰皇家银行(RBS)驻新加坡高级市场策略师曼苏尔?莫希-乌丁(Mansoor Mohi-Uddin)写道：“近来中国央行的外汇储备很稳定，人民币贬值预期也已消退。不过，境外投资者退出套息交易以及国内企业偿付外币债务导致的两股资金外流仍在继续。随着美联储准备好在今年夏天加息，这两股资金外流将再次提速。”

Mr Mohi-Uddin expects the the yuan to fall to 6.80 in the coming months and believes it may reach 7.00 if the Fed hikes rates times two or three times in 2016.

莫希-乌丁预计，今后几个月人民币汇率会跌至1美元兑换6.80元人民币，如果美联储在2016年加息两到三次的话，人民币汇率或许会跌至1美元兑7.00元人民币。

1 toll   

n.过路(桥)费；损失，伤亡人数；v.敲(钟)

参考例句：

• The hailstone took a heavy toll of the crops in our village last night.昨晚那场冰雹损坏了我们村的庄稼。
• The war took a heavy toll of human life.这次战争夺去了许多人的生命。

2 touching   

adj.动人的，使人感伤的

参考例句：

• It was a touching sight.这是一幅动人的景象。
• His letter was touching.他的信很感人。

3 essentially   

adv.本质上，实质上，基本上

参考例句：

• Really great men are essentially modest.真正的伟人大都很谦虚。
• She is an essentially selfish person.她本质上是个自私自利的人。

4 investors   

n.投资者，出资者( investor的名词复数 )

参考例句：

• a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
• a cash bonanza for investors 投资者的赚钱机会

5 dictate   

v.口授；(使)听写；指令，指示，命令

参考例句：

• It took him a long time to dictate this letter.口述这封信花了他很长时间。
• What right have you to dictate to others?你有什么资格向别人发号施令？

6 timing   

n.时间安排，时间选择

参考例句：

• The timing of the meeting is not convenient.会议的时间安排不合适。
• The timing of our statement is very opportune.我们发表声明选择的时机很恰当。

7 buffeting   

振动

参考例句：

• The flowers took quite a buffeting in the storm. 花朵在暴风雨中备受摧残。
• He's been buffeting with misfortunes for 15 years. 15年来，他与各种不幸相博斗。

8 depreciation   

n.价值低落，贬值，蔑视，贬低

参考例句：

• She can't bear the depreciation of the enemy.她受不了敌人的蹂躏。
• They wrote off 500 for depreciation of machinery.他们注销了500镑作为机器折旧费。

9 ebbed   

（指潮水）退( ebb的过去式和过去分词 )； 落； 减少； 衰落

参考例句：

• But the pain had ebbed away and the trembling had stopped. 不过这次痛已减退，寒战也停止了。
• But gradually his interest in good causes ebbed away. 不过后来他对这类事业兴趣也逐渐淡薄了。

10 flare   

v.闪耀，闪烁；n.潮红；突发

参考例句：

• The match gave a flare.火柴发出闪光。
• You need not flare up merely because I mentioned your work.你大可不必因为我提到你的工作就动怒。