Taux de change: mer calme

Christine Rifflart ()
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Christine Rifflart: OFCE - Observatoire français des conjonctures économiques (Sciences Po) - Sciences Po - Sciences Po

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Abstract: reaking off with three years of depreciation, the dollar exchange rate has appreciated in 2005 in relation with the euro and the yen. In spite of the deterioration of the current account on the whole year, private capital inflows returned to the US market, attracted by high interest rates and some strong return expectations. Moreover, a one off incentive measure has stimulated the inflows of US earnings. In 2006 and 2007, the strengthening of the growth and a more aggressive monetary policy in the EA will change perceptions for investors. The euro will become stronger to 1,3 dollar in the beginning of 2007, after 1,2 in the 2006 first term. The yen will be sold at 107 yen for 1 dollar, after 117 nowadays.

Keywords: Taux de change; Croissance; Banques centrales (search for similar items in EconPapers)
Date: 2006-04
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Published in Revue de l'OFCE, 2006, 97, pp.169 - 177. ⟨10.3917/reof.097.0169⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-03459171

DOI: 10.3917/reof.097.0169

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