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Effects of US money announcements on the daily exchange rates of industrialized countries

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Abstract:

This paper examines the effects of anticipated and unanticipated components of US money supply announcements on exchange rates for each day of the week for eight industrialized countries. The results show that most of the reaction to the anticipated component occurs before the announcement. However, the unanticipated component of the announcement causes strong reactions on the Friday and the Monday following the announcement, and in the days preceding the announcement.

Document Type: Research Article

DOI: https://doi.org/10.1080/000368400322499

Publication date: 2000-04-15

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