Fed 'policy shocks' cause both dollar and foreign interest rates to fall, Boston Fed paper finds
Expansionary monetary policy shocks "embedded in announcements" made by the Federal Reserve prompt the dollar to depreciate, while similar "unexpected expansionary announcements" by foreign central banks cause it to appreciate, a Federal Reserve Bank of Boston brief finds.
Domestic and Foreign Announcements on Unconventional Monetary Policy and Exchange Rates, by Federico Díez and Ignacio Presno, studies the effects that announcements about unconventional monetary policies (large-scale asset
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