Indeed, when European finance ministers joined Mr Trichet's rebuke to the markets, traders sent the currency soaring again.
If Germany were to leave, its export-based manufacturing economy would take a body blow as the new currency soared.
Just this week Ben Bernanke, its chairman, demonstrated its influence when a rare comment on the dollar's weakness sent the currency soaring (see article).
These companies as well as Mitsubishi, Isuzu, Fuji, and Suzuki later opened manufacturing plants in major markets outside Japan to ease trade tensions and increase their competitiveness as the value of Japan's currency soared.
If you want an example of a lack of liquidity, look at what happened to the Swiss franc when the country's central bank dropped its three-year peg to the euro: its currency soared against the euro.
Lured by high interest rates, investors have piled into the country, sending the currency soaring to an increasingly overvalued rate, despite an expanding arsenal of taxes designed to deter them.
The SNB shocked foreign exchange markets last September when it imposed a cap on the value of the franc against the euro to stop the currency soaring and thereby hurting Swiss exporters' earnings.
After 1973, the United States adopted a hands-off policy toward the dollar, but it was forced to reverse course in the mid-nineteen-eighties when the currency soared so far — at one point reaching almost one pound sterling per dollar — that American exporters were priced out of markets all over the world.
A day after it temporarily surpassed the value of the pound (for the second time ever), the currency soared to a 12-month high against the greenback.
Hopes that Prime Minister Yulia Timoshenko and President Viktor Yushchenko are finally finding common ground and close to accepting terms for aid from the International Monetary Fund sent the local currency soaring Wednesday.
Many have seen their currencies soar as foreign money pours in.
