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PPP works only long term, so base only long term currency market expectations using PPP.
Currency futures can be expected to incorporate IRP at any instance-- so while underlying rates will move slowly overtime, the IRP effects are observable instantly via futures. You could call this "IRP holds in the short term"
Edited 1 time(s). Last edit at Wednesday, June 1, 2011 at 08:46PM by jbaphna. |
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发表于 2011-7-13 15:04
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