Exchange rates are influenced by macroeconomic performance: Buba paper
Macroeconomic fundamentals can influence exchange rates through changes in the expectation of monetary policies, a Bundesbank paper published, on Friday, says.
Qianying Chen, the paper's author, uses data on the Deutsche mark, the Canadian dollar, Japanese yen and the British pound relative to the US dollar from 1979 to 2008 to investigate the implications of monetary policy rules on changes in exchange rate. While past literature has favoured the view that exchange rate dynamics are unrelated
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