.S. dollar is a base currency the impact of the news is larger than in the case of the euro, (vii) announcements on ECB monetary …

) when the U.S. dollar is a base currency the impact of the news is larger than in case of the euro, (vii) announcements on …

This paper studies the reaction of the mean and volatility of the euro-dollar exchange rate to statements of ECB … officials during the first years of EMU. We focus on statements on monetary policy and the (potential) strength of the euro. We … find that the Bundesbank has dominated the news coverage. We conclude that ECB statements have mainly influenced volatility …

We investigate the impact of the European Central Bank's monetary policy announcements on the level and volatility of …