economies (EMEs) on configurations between the US dollar, the euro and the yen. Given the difficulty that fixed or managed US … paper is to analyse the market impact on major currency pairs of official statements made by EME policy-makers about their … have a statistically but also an economically significant impact on the euro, and to a lesser extent the yen against the US …

euro and the Chinese renminbi (RMB). It focuses on what we call China's "dominance hypothesis", i.e. whether the renminbi … dollar ; euro ; German dominance hypothesis …

of models to include Taylor rule fundamentals, yield curve factors, and incorporate shadow rates and risk and liquidity … correction and firstdifference specifications. We examine model performance at various forecast horizons (1 quarter, 4 quarters …

estimate a Markov switching VAR for the euro area and the US, including additionally GDP, CPI and a short-term interest rate …. We find evidence for two distinct states in both regions. For the euro area, we find a regime which is correlated to the … of credit and asset price shocks on GDP. Shocks in both variables explain each about 20% of GDP's forecast error variance …

moving the US dollar, yen and euro in the intended direction at horizons of up to three months after G7 meetings, but not at …