Fatum, Rasmus; Pedersen, Jesper; Sørensen, Peter Norman - In: Journal of International Money and Finance 33 (2013) C, pp. 103-117
We investigate the intraday effects of intra-marginal intervention in a horizontal band on the exchange rate spread. Official intraday data on Danish intervention transactions in the ERM II, the Exchange Rate Mechanism of the European Union, facilitates our analysis. We show that intervention...
