Profits and Speculation in Intra-Day Foreign Exchange Trading

This study examines profits and speculation in the USD/EUR trading of a bank in Germanyover a four-month period. Dealing activity at the bank generates profits but speculation doesnot seem to contribute to this. We find that speculative positions fail to become profitablewithin a 30-minutes' horizon. Also, the suggestion that exchange rate volatility would fosterspeculative profits cannot be confirmed.[...]

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Year of publication:	2006-06-01
Authors:	Mende, Alexander ; Menkhoff, Lukas
Institutions:	Universität <Hannover> / Wirtschaftswissenschaftliche Fakultät
Subject:	Spekulation \| speculation \| Devisenmarkt \| Marktstruktur \| Kapitalprofit

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Extent:	254976 bytes 34 p. application/pdf
Series:	Wirtschaftswissenschaftliche Fakultät der Leibniz Universität Hannover - Diskussionspapiere Diskussionspapier ; Nummer 339
Type of publication:	Book / Working Paper
Language:	English
ISSN:	0949-9962
Classification:	F31 - Foreign Exchange ; G15 - International Financial Markets ; Capital budgeting, budgetary planning and budgetary control ; Management of financial services: stock exchange and bank management science (including saving banks) ; Individual Working Papers, Preprints ; Europe. General Resources ; USA
Source:	USB Cologne (business full texts)

Persistent link: https://www.econbiz.de/10005867502