In what sense is it a misnomer to refer to a currency as


1. In what sense is it a misnomer to refer to a currency as weak or strong? Who benefi ts and who loses if the yen appreciates against the pound?

2. What does a spot exchange rate have in common with a forward rate, and how are they different?

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Financial Econometrics: In what sense is it a misnomer to refer to a currency as
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