publication . Article . 1988

Currency speculation and dollar fluctuations

Stephan Schulmeister;
Open Access English
  • Published: 01 Dec 1988 Journal: PSL Quarterly Review (issn: 2037-3635, eissn: 2037-3643, Copyright policy)
  • Publisher: Associazione Economia civile
Abstract
In this study the reasons behind the wide fluctuations of the dollar exchange rate following the breakdown of the Bretton Woods system, for the most part unexplained by the prevailing exchange rate theories, are explored. To do so, the author investigates the exchange rate between the two most traded currencies, the dollar and the deutschemark, from 1973 to 1988. In the first part, the pattern of the daily exchange rate movements is examined to show that a sequence of upward and downward trends interrupted by non-directional movements is typical of exchange rate dynamics in the short run. Moreover, this pattern is systemically exploited through currency speculat...
Subjects
free text keywords: dollar exchange rate; Bretton Woods system; price; speculation, Currency speculation, dollar fluctuations, Political science, J, Economic theory. Demography, HB1-3840, jel:E31, jel:E42, jel:E43
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