08 Jun Question September 17, 2015 Name______________
Question
September 17, 2015 Name_____________________________
Lecture 6: ECON 4322-01
Readings:
“Stronger euro may put pressure on ECB,” Wall Street Journal, C4, September 17, 2015.
Topics discussed:
– Recent effects of US monetary policy on the euro
– Potential policy responses of the ECB to the Fed delay in raising the targeted Fed funds rate
Major topics to be covered on September 22, 2015:
– Triangular arbitrage
Supply and demand (last one):
According to a short article published in The Wall Street Journal on September 18, 2015, “The dollar extended declines against … Japan’s yen after Thursday’s sharp losses against a broad range of currencies. Lower rates are a drag on the dollar, as they make the currency less attractive to investors, [who seek higher returns in other currencies]…. [relative to Thursday’s closing price of 120.21] the greenback was 0.8% lower [on Friday] against the yen at around Yen119.25.”
a. Below, demonstrate the effects described in the market for dollars (the effects that moved the price from 120.21 to 119.25). Please specifically discuss which curves shift and why. Please carefully label your graph.
b. Below, demonstrate the effects described in the market for yen. Be extremely careful in labeling your graph. As discussed in class, seemingly innocuous mistakes or omissions in labeling can severely affect the accuracy of your graph. Please pay special attention to the price.
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