Either way, the carry trade bubble will get worse: if there is no forex intervention and foreign currencies appreciate, the negative borrowing cost of the carry trade becomes more negative.

• 不管是哪种情况，利差交易泡沫都将恶化：如果不实施外汇干预，并且外币又在升值，那么利差交易的负借款成本将变成一个绝对值更高的负值。