Front Matter Page
Monetary and Capital Markets Department
Contents
I. Introduction
II. A Brief Primer On Submarine Fiber-Optic Cables
III. Empirical Framework And Hypotheses
IV. Basic Results
V. Extended Specification And Resul
VI. Conclusion
Tables
1. Impact of Macro News on Exchange Rates
2. Impact of Macro News on Exchange Rates-Role of Technology
3. Impact of Monetary Policy News on Exchange Rates–Role of Trading Location and Technology
4. Impact of Other News on Exchange Rates–Role of Trading Location and Technology
5. Estimates Controlling for the Effect of Local News
Figures
1. Point-to-Point Connection to the World’s Largest Foreign Exchange Markets via Submarine Fiber-Optic Cables
2. Distribution of Daily FX Returns and Macroeconomic News
3. Conditional Impact of Monetary Policy News on Exchange Rates–Role of Technology
4. Share of Foreign Exchange Trading Occurring Offshore
5. Conditional Impact of U.S. Policy Interest Rate News on Exchange Rates–Role of Trading Location and Technology