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Under the microscope: the structure of the foreign exchange market

Author

Listed:
  • Michael J. Sager

    (Putnam Investments and University of Warwick, UK)

  • Mark P. Taylor

    (University of Warwick and Centre for Economic Policy Research, UK)

Abstract

We provide a detailed, up-to-date description of the microstructure of the foreign exchange market and of the behaviour of participant groups. In the light of this, we highlight shortcomings in existing theoretical models of market interaction and present an outline alternative model that marries theoretical prediction and current market practice. Copyright © 2006 John Wiley & Sons, Ltd.

Suggested Citation

  • Michael J. Sager & Mark P. Taylor, 2006. "Under the microscope: the structure of the foreign exchange market," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 11(1), pages 81-95.
    • Handle: RePEc:ijf:ijfiec:v:11:y:2006:i:1:p:81-95
    DOI: 10.1002/ijfe.277
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    References listed on IDEAS

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