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Abstract: An Examination of the Forward Exchange Market during Pegged and Floating Systems: United States, Canada, Germany, and United Kingdom

Published online by Cambridge University Press:  19 October 2009

James R. F. Guy
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Extract

This paper examines the profitability and risk of a naive strategy of forward exchange speculation during pegged and flexible exchange rate systems. It suggests a new method of calculating these speculative returns and shows that the average return was much less than previously supposed and that the distribution of returns differed between systems and countries.

Type
Abstracts of Conference Papers: International Finance
Information
Journal of Financial and Quantitative Analysis , Volume 12 , Issue 4 , November 1977 , pp. 631
Copyright
Copyright © School of Business Administration, University of Washington 1977

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