For veterans of periods of currency instability and bouts of foreign-exchange turbulence, it is shaping up to be quite like old times.
The dollar, the rouble and the Turkish lira have all hit choppy waters, and the International Monetary Fund (IMF) has identified currency movements as a key potential source of world financial instability.
Then this month came a bombshell from the White House, as Donald Trump tweeted an accusation of currency manipulation by Russia and China to gain an unfair trade advantage. More on that in a moment.
First, a look at some of the more marked currency movements during the past 12 months. The sterling/dollar rate, for example, has swung round from a low of $1.26 to a high of $1.44 and settled in late April at about $1.40.
“Not acceptable” - Trump
Then there is the rate between the dollar and the Turkish lira. In the last 12 months, the US currency has been worth as little as 3.41 lira and as much as 4.2. In late April, it traded at about four lira.
From either side of the Pacific Ocean, the rate between the Australian and American dollars has bounced around during the last 12 months, with the A$ buying anything between US$0.74 and $0.81.
Meanwhile, strained relations between the Russian Federation and the European Union have been mirrored in the euro/rouble exchange rate, with the euro buying anything from just 61 roubles to 79, settling at about 76 roubles in late April.
To President Trump, any weakening of the rouble may not be coincidental. His April 16 tweet read: