30 July 2013
30 July 2013
Exchange Rate Perspectives: FX and the Financial Transaction Tax
Figure 6: USD/CAD is cheap vs. BEER FV
1.8 CAD BEER Fair Value Spot
1.6
li
1.2 eterNit ,
I*4*--or 1.4
1.0 1
80 82 84 86 88 90 92 94 96 98 00 07 04 06 08 10 12
Sane OS FX Raven
'Figure S. NZDAJSD s BEER FV
1.2 NzD
1.0
0.8
0.6 1
0.4 4 !Figure 7: AUDIUSD is quite expensive vs. BEER FV
1.4
1.2
1.0
0.8
0.6
0.4 AUD BEER Fair Value Spot
80 82 84 86 88 90 92 94 96 98 00 02 04 06 08 10 12
Savor DS" Raton et
Figure 9: USD:CHF is quite cheap vs. BEER FV
3.0
BEER Fa I r Value —Spot BEER FairValue 0...0*Spot
2.5
2.0
1.5
1.0
0.2 0.5
80 82 84 86 88 90 92 94 96 98 00 02 04 06 08 10 12
Saw: 08 FR Rosa. CHF
80 82 84 86 88 90 92 94 96 98 00 02 04 06 08 10 12
Sart, Ostath• Sint
'-Figure 10: USDNOK is a bit expensive vs. BEER FV 'Figure 1 I: USD/SEK Is expensive vs. BEER FV
10.0
8.0
6.0
4.0 12.0
BEER Fair Valu es Spot BEER Fair Value •Spot
9.0
6.0
2.0 --- 3.0
80 82 84 86 88 90 92 94 96 98 00 02 04 06 08 10 12
Sans DS FX thsesten SEK
80 82 84 86 88 90 92 94 96 98 00 02 04 06 08 10 12
Sane 118 IN Resta
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