We investigate the kinematic and dynamic dynamos that result when the
magnetic field is assumed to be spatially periodic on a scale twice th
at of the periodicity of the underlying driving velocity, the ''CP flo
w'' of Galloway and Proctor (1992). In the kinematic regime four disti
nct modes are possible; all appear to exhibit fast dynamo action. In t
he nonlinear regime mode coupling may occur and different saturated st
ates are possible for the same parameter values.