This is particularly unhelpful if you need to change word order, as links are lost when you cut and paste the word you wanted to move.
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This is already supported in CX2, a major refactoring and architectural update of Content Translation to integrate the same editing surface as VisualEditor. Currently it can be tested by adding &version=2 to the URL of the translation editor (still experimental), and will become the default version in the future.
(Links pasted from external pages are still lost, but that is tracked in T76571 )