Why are exchange rates so difficult to predict?
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 .
File(s): File format is application/pdf http://dallasfed.org/assets/documents/research/eclett/2008/el0806.pdf
Provider: Federal Reserve Bank of Dallas
Part of Series: Economic Letter
Publication Date: 2008
Order Number: 6