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John Forman

I think it might be a more interesting study to use real interest rates as then you would account for both inflation and interest rates. Real interest rates are more reflective of the attractiveness of a currency for investment. Obviously, that still leaves balance of trade and payments out of the picture.

KK

It would be interesting to see the individual country fiscal deficit compared to the change in their currency. That should closely co-relate to the change in currency.

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