“十四五”规划指出，我国发展环境面临深刻复杂变化，“国际环境日趋复杂，不稳定性不确定性明显增加”，国内外经济政策不确定性的增加使我国面临更高的汇率异常波动风险。在这一背景下，有必要理清经济政策不确定性对汇率波动的影响及可能的影响渠道。本文首先梳理了经济政策不确定性影响汇率波动的相关文献，并对线性视角和非线性视角下的研究结论进行了总结；其次分析了经济政策不确定性影响汇率波动的理论机制；最后，基于文献综述和理论机制分析，本文认为应加强政策制定管理和预期管理调控经济政策不确定性，同时加强对外汇市场的调控和干预能力，有序推进人民币国际化进程。

The 14th Five-Year Plan points out that China's development environment is facing profound and complex changes, “the international environment is becoming increasingly complex, and the instability and uncertainty are significantly increasing”.The increasing uncertainty of domestic and foreign economic policies makes China face higher risk of excess exchange rate fluctuation.In this context, it is necessary to clarify the impact of economic policy uncertainty on exchange rate fluctuation and possible impact channels.Firstly, this paper reviews relevant literature about the impact of economic policy uncertainty on exchange rate fluctuation, and summarizes the research conclusions from the linear and nonlinear perspectives.Secondly, this paper analyzes the theoretical mechanism of the impact of economic policy uncertainty on exchange rate fluctuation, and finally, based on literature review and theoretical mechanism analysis, this paper argues that we should strengthen the policy-making management and expectation management to regulate the uncertainty of economic policy, while strengthening the ability to regulate and intervene in the foreign exchange market, so as to promote the Internationalization of the renminbi process in an orderly manner.