Читать книгу Foreign Exchange: The Complete Deal - James McDowell. Sharpe - Страница 32

This topic is very broad and while we can see that the role of intervention has generated a lot of debate and research amongst the academic community, the results are not clear cut. This, however, has not deterred a number of monetary authorities from intervening with some frequency. This has been particularly evident in Asia.

The importance to the market is that intervention does influence exchange rates and hedging policy. The difficulty for the market lies in determining the degree of impact and its sustainability.