Shandu, Philani; Boako, Gideon; Alagidede, Paul - In: International Journal of Emerging Markets 13 (2018) 1, pp. 87-117
Purpose: The purpose of this paper is to investigate the information-based microstructure theory’s effectiveness in explaining short-term disturbances in currency prices by determining whether the price discovery process in the US dollar (USD) and South African rand (ZAR)-USD/ZAR spot market...