-funded speculation - with a particular focus on the South African rand, for which the carry trade is often seen as a source of exchange … rate volatility. Targeting the rand through forward currency speculation produces returns which are as volatile, but with …

We examine the empirical properties of the payoffs to two popular currency speculation strategies: the carry trade and …

needs not only a small expected gain from speculation, but also either a high positive correlation between the two rates of …

speculation prevailed over the “fundamentals.†Our paper explores the reasons why the Italian lira and the U.K. pound were …

economy due to its changing capital mobility, and the changing intensity of currency speculation in response to the changing …

-residents and residents outside Singapore. One of the objectives of this MAS policy is to discourage speculation against the …

This paper is concerned with the ability of speculation to gener- ate a currency crisis. We consider a game … speculation not including reserve holdings (e.g., Morris and Shin, 1998). Our sim- ple framework with international reserves …

This paper identifies the ex ante factors of currency speculation based on the experience of Hong Kong’s three episodes … probability of currency speculation. The empirical results indicate that unusual movements in the exchange rate difference, Hang … periods of currency speculation. The paper traces the disposition of the speculators. …