Euro’s puzzling relation to economy uncovered
NEWS
BASEL -- The puzzling evolution of the euro/dollar exchange rate following its 1999 launch owed more to the influence of macro-economic news than was previously thought, an extensive study from the Bank for International Settlements (BIS) found.
The study, published on January 3, entitled ‘Macroeconomic news and the euro/dollar exchange rate’, showed that announcements of economic data had a statistically significant correlation with daily movements of the euro against the dollar in 1999 and
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