Browsing BI Open by Author "Breedon, Francis"
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Carry trades, order flow, and the forward bias puzzle
Breedon, Francis; Rime, Dagfinn; Vitale, Paolo (Journal article; Peer reviewed, 2016)We investigate the relation between foreign exchange (FX) order ow and the forward bias. We outline a decomposition of the forward bias according to which a negative correlation between interest rate di erentials and ...