currencies, and the euro serves as a hedge currency. Results for the yen support its role as a carry funding vehicle, but not … fundamental determinants. We therefore address the question of whether a supposed safe haven currency only appreciates in times of … crises because carry trades are unwound, in which the corresponding currency has served as funding currency, or whether it …

currencies, and the euro serves as a hedge currency. Results for the yen support its role as a carry funding vehicle, but not … fundamental determinants. We therefore address the question of whether a supposed safe haven currency only appreciates in times of … crises because carry trades are unwound, in which the corresponding currency has served as funding currency, or whether it …

franc and the Japanese yen vis-à-vis the US dollar before and after the introduction of the euro. Based on dynamic …This paper examines co-movements and volatility spillovers in the returns of the euro, the British pound, the Swiss … with extreme economic episodes and, to a lower extend, with appreciations of the US dollar. Moreover, the euro (Deutsche …

Starting from the stylized fact that the Swiss franc is a safe haven currency, this paper focuses on the determinants … Swiss National Bank would prevent the Swiss franc from appreciating beyond 1.20 to the euro muted the sensitivity of EUR …