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Why are exchange rates so difficult to predict?

Jian Wang

Economic Letter, 2008, vol. 3, issue jun, No 6

Abstract: A quarter-century quest hasn't found the elusive links between economic fundamentals and currency values. ; The U.S. dollar has been losing value against several major currencies this decade. Since 2001-02, the U.S. currency has fallen about 50 percent against the euro, 40 percent against the Canadian dollar and 30 percent against the British pound .

Keywords: Foreign exchange rates; Forecasting; Dollar, American (search for similar items in EconPapers)
Date: 2008
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Handle: RePEc:fip:feddel:y:2008:i:jun:n:v.3no.6