My understanding from my undergrad Money and Banking course (someone else may learn the same topic from a differing vantage point) is that even if all countries are printing money at the same time different countries print differing amounts of money because they either have some comparative advantage in some good or service they can produce or none at all.
Separate from value to other currencies it still effectively shrinks debts, and prices in different areas/sectors take different amounts of time to adjust. So still lots of effects.
Yes there is an official convention [1]. EUR/USD = X means you pay X USD (the quote currency, listed second) for one unit of EUR (the base currency, listed first). These are usually always the same way for the same pair of currencies (EURUSD is almost always USD as the quote currency, USDCHF is almost always Swiss franc as the quote currency)
It’ll be funny if banks just end up using the fed repo facility to buy up higher interest treasuries. Fed balance sheet just switches from bonds to repo loans…
People and industries who take on massive debt point to two moments in history to suggest that hyperinflation is still preferable to deflation for economic health. Its pretty flimsy argument IMO.
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[ 4.7 ms ] story [ 37.7 ms ] threadWhat does it mean that EUR/USD (EURUSD=X) 1.0523
Does it mean that if I exchange one Euro to dollars I get 1.0523 Dollars? OR does it mean if I exchange one Dollar to Euros I get 1.0523 Euros?
How would I know which one it is? Is there some official convention for this?
Does EUR/USD mean something like "Euro divided by Dollar" ?
And what does "EURUSD=X" mean?
[1] https://www.cmegroup.com/education/courses/introduction-to-f...