Alsakka, Rasha; ap Gwilym, Owain - In: Journal of International Money and Finance 31 (2012) 4, pp. 845-864
We analyse the reaction of the foreign exchange spot market to sovereign credit signals by Fitch, Moody’s and S … market reactions to sovereign credit events are highlighted in emerging versus developed economies, and in various …&P during 1994–2010. We find that positive and negative credit news affects both the own-country exchange rate and other …