05415nam 22006854a 450 991082992160332120230829003446.01-119-20918-81-280-44885-797866104488520-470-02973-0(CKB)1000000000239291(EBL)257688(OCoLC)475974252(SSID)ssj0000133922(PQKBManifestationID)12045434(PQKBTitleCode)TC0000133922(PQKBWorkID)10046534(PQKB)11085466(MiAaPQ)EBC257688(EXLCZ)99100000000023929120060215d2006 uy 0engur|n|---|||||txtccrCurrency strategy[electronic resource] the practitioner's guide to currency investing, hedging and forecasting /Callum Henderson2nd ed.Chichester, England ;Hoboken, NJ John Wiley & Sonsc20061 online resource (265 p.)Wiley finance seriesDescription based upon print version of record.0-470-29671-2 0-470-02759-2 Includes bibliographical references and index.Currency Strategy; Contents; Preface to the Second Edition; Acknowledgements; About the Author; Introduction; Part One Theory and Practice; 1 Fundamental Analysis: The Strengths and Weaknesses of Traditional Exchange Rate Models; 1.1 Purchasing Power Parity; 1.1.1 Reasons for "Misalignments"; 1.1.2 Tradable and Non-Tradable Goods; 1.1.3 PPP and Corporate Pricing Strategy; Example 1; Example 2; 1.1.4 PPP and the Real Exchange Rate; 1.2 The Monetary Approach; 1.2.1 Mundell-Fleming; 1.2.2 Theory vs. Practice; 1.2.3 A Multi-Polar rather than a Bi-Polar Investment World1.2.4 Two Legs but not Three1.2.5 Implications for New EU Member States; 1.3 The Interest Rate Approach; 1.3.1 Real Interest Rate Differentials and Exchange Rates; 1.4 The Balance of Payments Approach; 1.4.1 A Fixed Exchange Rate Regime; 1.4.2 A Floating Exchange Rate Regime; 1.4.3 The External Balance and the Real Exchange Rate; 1.4.4 REER and FEER; 1.4.5 Terms of Trade; 1.4.6 Productivity; 1.5 The Portfolio Balance Approach Example; Example; 1.6 Summary; 2 Currency Economics: A More Focused Framework; 2.1 Currencies are Different; 2.1.1 (In)Efficient Markets2.1.2 Speculation and Exchange Rates: Cause, Effect and the Cycle Example2.1.3 Risk Appetite Indicators and Exchange Rates; 2.2 Currency Economics; 2.2.1 The Standard Accounting Identity for Economic Adjustment; Example 1; Example 2; 2.2.2 The J-Curve; Example; 2.2.3 The Real Effective Exchange Rate; 2.3 Summary; 3 Flow: Tracking the Animal Spirits; 3.1 Some Examples of Flow Models; 3.1.1 Short-Term Flow Models; 3.1.2 Medium-Term Flow Models; 3.1.3 Option Flow/Sentiment Models; 3.2 Speculative and Non-Speculative Flows; 3.3 Summary; 4 Technical Analysis: The Art of Charting4.1 Origins and Basic Concepts4.2 The Challenge of Technical Analysis; 4.3 The Art of Charting; 4.3.1 Currency Order Dynamics and Technical Levels; 4.3.2 The Study of Trends; 4.3.3 Psychological Levels; 4.4 Schools of (Technical) Thought; 4.5 Technical Analysis and Currency Market Practitioners; Part Two Regimes and Crises; 5 Exchange Rate Regimes: Fixed or Floating?; 5.1 An Emerging World; 5.2 A Brief History of Emerging Market Exchange Rates; 5.2.1 The Rise of Capital Flows; 5.2.2 Openness to Trade; 5.3 Fixed and Pegged Exchange Rate Regimes; 5.3.1 The Currency Board5.3.2 Fear and Floating5.3.3 The Monetary Anchor of Credibility; 5.4 Exchange Rate Regime Sustainability - A Bi-Polar World?; 5.5 The Realworld Relevance of the Exchange Rate Regime; 5.6 Summary; 6 Model Analysis: Can Currency Crises be Predicted?; 6.1 A Model for Pegged Exchange Rates; 6.1.1 Phase I: Capital Inflows and Real Exchange Rate Appreciation; 6.1.2 Phase II: The Irresistible Force and the Moveable Object; 6.1.3 Phase III: The Liquidity Rally; 6.1.4 Phase IV: The Economy Hits Bottom; 6.1.5 Phase V: The Fundamental Rally; 6.2 A Model for Freely Floating Exchange Rates6.2.1 Phase I: Capital Inflows and Real Exchange Rate AppreciationCurrency Strategy, Second Edition develops new techniques and explains classic tools available for predicting, managing, and optimizing fluctuations in the currency markets. Author Callum Henderson shows readers ho to use mathematical models to assist in the prediction of crises and gives practical advice on how to use these and other tools successfully. Given there such huge focus on China at the moment, the timing of this new edition is particularly important. The new edition will feature a thorough update on the key developments in the past 3 years, new chapters on emerging marketsWiley finance series.Foreign exchangeHedging (Finance)SpeculationForeign exchange.Hedging (Finance)Speculation.332.4/5332.45Henderson Callum1608838MiAaPQMiAaPQMiAaPQBOOK9910829921603321Currency strategy3935797UNINA