This study conducts a comparative empirical examination of the dynamics of the relationship between exchange rates and stock market returns in four selected advanced economies before and during the war in Ukraine. We selected those countries from a commodity point of view, although we do not...

The war in Ukraine and new sanctions imposed on Russia have affected commodity prices and induced historic moves in exchange rate markets. In this paper, we examine the impact of commodity price shocks related to the war in Ukraine on three currencies (Canadian dollar, euro, and Japanese yen)....