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... ency value of the pound against the mark, and the attack on the pound by international hot money came to an end.
Some people may ask, why don't international hot money continue to attack the pound, causing the pound to depreciate further? This is because the currencies between countries are like two different lakes. The water between the two lakes flows with each other, and the two maintain a relative equilibrium. The price at this equilibrium is the normal exchange rate level. The Brit ...
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