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Article: A survey of market practitioners' views on exchange rate dynamics

TitleA survey of market practitioners' views on exchange rate dynamics
Authors
KeywordsExchange Rate Dynamics
Foreign Exchange Traders
Microstructure
Survey Study
Issue Date2000
PublisherElsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/jie
Citation
Journal Of International Economics, 2000, v. 51 n. 2, p. 401-419 How to Cite?
AbstractWe report some findings from a survey of practitioners in the interbank foreign exchange markets in Hong Kong, Tokyo, and Singapore. The respondents contend that liquidity and market uncertainty are two important reasons for deviating from the conventional interbank bid-ask spread. A strong customer base is perceived as a source of competitive advantage for large participants. Most respondents agree that non-fundamental factors have pervasive impacts on short-run exchange rates. Speculation is believed to increase volatility but also improve market liquidity and efficiency. Despite their claim that intervention exacerbates volatility, more than one-half of the respondents suggest official intervention helps restore equilibrium. (C) 2000 Elsevier Science B.V. All rights reserved.
Persistent Identifierhttp://hdl.handle.net/10722/177683
ISSN
2015 Impact Factor: 2.017
2015 SCImago Journal Rankings: 3.723
SSRN
ISI Accession Number ID
References

 

DC FieldValueLanguage
dc.contributor.authorCheung, YWen_US
dc.contributor.authorWong, CYPen_US
dc.date.accessioned2012-12-19T09:39:31Z-
dc.date.available2012-12-19T09:39:31Z-
dc.date.issued2000en_US
dc.identifier.citationJournal Of International Economics, 2000, v. 51 n. 2, p. 401-419en_US
dc.identifier.issn0022-1996en_US
dc.identifier.urihttp://hdl.handle.net/10722/177683-
dc.description.abstractWe report some findings from a survey of practitioners in the interbank foreign exchange markets in Hong Kong, Tokyo, and Singapore. The respondents contend that liquidity and market uncertainty are two important reasons for deviating from the conventional interbank bid-ask spread. A strong customer base is perceived as a source of competitive advantage for large participants. Most respondents agree that non-fundamental factors have pervasive impacts on short-run exchange rates. Speculation is believed to increase volatility but also improve market liquidity and efficiency. Despite their claim that intervention exacerbates volatility, more than one-half of the respondents suggest official intervention helps restore equilibrium. (C) 2000 Elsevier Science B.V. All rights reserved.en_US
dc.languageengen_US
dc.publisherElsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/jieen_US
dc.relation.ispartofJournal of International Economicsen_US
dc.subjectExchange Rate Dynamicsen_US
dc.subjectForeign Exchange Tradersen_US
dc.subjectMicrostructureen_US
dc.subjectSurvey Studyen_US
dc.titleA survey of market practitioners' views on exchange rate dynamicsen_US
dc.typeArticleen_US
dc.identifier.emailCheung, YW: cheung@econ.hku.hken_US
dc.identifier.emailWong, CYP: ypclemw@hku.hken_US
dc.identifier.authorityCheung, YW=rp01055en_US
dc.identifier.authorityWong, CYP=rp01109en_US
dc.description.naturelink_to_subscribed_fulltexten_US
dc.identifier.doi10.1016/S0022-1996(99)00009-4en_US
dc.identifier.scopuseid_2-s2.0-0033938149en_US
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-0033938149&selection=ref&src=s&origin=recordpageen_US
dc.identifier.volume51en_US
dc.identifier.issue2en_US
dc.identifier.spage401en_US
dc.identifier.epage419en_US
dc.identifier.isiWOS:000087811500009-
dc.publisher.placeNetherlandsen_US
dc.identifier.ssrn147258-
dc.identifier.scopusauthoridCheung, YW=7202111421en_US
dc.identifier.scopusauthoridWong, CYP=8902584200en_US

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