We have not heard these arguments yet , although the hot talk about a possible appreciation in the renminbi exchange rate has been affecting sentiment towards the hong kong dollar exchange rate for some time now . as a result , there has in the past 18 months been a significant discount on hong kong dollar interest rates from those for the us dollar . the consequent easy monetary conditions have thankfully helped the economic recovery that started in the third quarter of 2003 and has been sustained since 虽然我们暂时仍未听到这些说法，但有关人民币汇率可能升值的传闻不绝于耳，因而影响了市场对港元的看法：过去18个月，港元利率较美元同期利率一直出现颇大幅度的折让，由此形成的宽松货币环境，实有助整体经济维持自2003年第3季以来的复苏动力。
After passing through borodino the viceroy was beaten back at the kolotcha , and could advance no further . the divisions of morand and friant did not take the redoubt , but were driven back , and at the end of the day the redoubt was captured by cavalry in an action probably unforeseen by napoleon ; and not heard of by him 总督越过波罗底诺，在科洛恰被打退了，不能再前进了，多面堡没有被莫朗和弗里昂两师占领，只是在战斗结束时才被骑兵攻下拿破仑大概未料到也未听到。
