We develop a global vector autoregressive model to study the transmission of information between currency spot markets … system, we find that currency markets are intricately linked and that the Deutsche Mark and the Yen exert a leading influence …

Using detailed firm-level transactions data for UK imports, we find that invoicing in a vehicle currency is pervasive …, with more than half of transactions in our sample invoiced in neither sterling nor the exporter’s currency. We then study … the relationship between invoicing currency choices and the response of import prices to exchange rate changes. We find …

In this study we examine the role of the Euro on currency co-movements and contagion considering six major currencies …