Foreign Ex Markets Book

	Foreword
	Introduction
1	Exchange rate regimes : is the bipolar view correct	3
2	Expectations and exchange rate dynamics	25
3	Empirical exchange rate models of the seventies : do they fit out of sample?	41
4	Nominal exchange rates and monetary fundamentals : evidence from a small post-Bretton Woods panel	63
5	Intraday periodicity and volatility persistence in financial markets	89
6	Deutsche mark-dollar volatility : intraday activity patterns, macroeconomic announcements, and longer run dependencies	133
7	"Once-in-a-generation" yen volatility in 1998 : fundamentals, intervention, and order flow	180
8	The temporal pattern of trading rule returns and exchange rate intervention : intervention does not generate technical trading profits	203
9	Why do central banks intervene?	227
10	Is intervention a signal of future monetary policy? : evidence from the federal funds futures market	238
11	Does the Fed beat the foreign-exchange market?	254
12	Exchange rate effects of central bank interventions : an analysis of transaction prices	284
13	The market microstructure of central bank intervention	299
14	Tests of microstructural hypotheses in the foreign exchange market	323
15	Informed traders, intervention, and price leadership : a deeper view of the microstructure of the foreign exchange market	354
16	Asymmetric information and price discovery in the FX market : does Tokyo know more about the yen?	380
17	Order flow and exchange rate dynamics	395