Exchange rates and parity relationships

Project description
You will be randomly assigned (based on student number) a currency pair and are required to
prepare a report that covers the following:
1. Discuss the history of the FIRST currency in your quote. My quote is
JPY/USD, provide a history on the JPY. (about 750 words). 3 marks

2A. Plot the quote, using daily close data, for the last 5 years and indicate TWO significant
movements on the chart with an arrow on your chart.
NOTE: You are required to download the exchange rate data and create your own graph. It is
not acceptable to copy a chart with the data from another source. 3 marks
2B. Investigate and report the factors that may explain these movements (about 375 words
per movement (total about 750 words)). 3 marks each = total 6 marks
3A. Using Purchasing Power Parity as covered in seminar three, give a 3 month forecast and
a 12 month forecast of your assigned rate. (Prepare the forecast 3 months and 12 months from
the date of the last rate you plot). 3 marks
3B. Discuss the theory behind the Purchasing Power Parity relationship, it strengths and
limitations and how much confidence you have in your forecasts. (about 500 words). 3
marks
The remaining 2 marks will be allocated to the quality of references used and formatting. 2
marks
IMPORTANT:
1. Each of the 3 parts is separate and should be presented separately. Start each part on a new
page.
2. At the end of each part, provide a bibliography for that part, before any tables or diagrams
associated with that part. Refer to the guide for referencing and bibliography style.
3. Note marks will be awarded to quality of the materials you reference. Articles from
academic journals, text books or noted financial sources are required. General, non-financial
sources are not acceptable.
4. Pay attention to the word count. This is what you should aim for. Less than these amounts
means you have not answered in enough depth.
Submission format
Remember marks are awarded for following these instructions.
Word requirements are as indicated and you should include a word count at the end of the
writing for each part (i.e., before the references). The word count excludes references,
diagrams, figures and tables. Diagrams, figures and tables should all be included at the end of the appropriate part after references. Use 1.5 line spacing, 12 font size Times New Roman
and page numbers bottom right hand corner. Student name and number should be in the top
left hand corner of every page.

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