Market information on the internet. Use your own institutions currency database or search online for Bank of
Question:
Market information on the internet. Use your own institution’s currency database or search online for ‘Bank of England Interest & exchange rates data’ to download at least one year of daily data in Excel.
Select a pattern, for example two days of consecutive falls, then select and check the movements on the following day (the third day in this case). Are the following day movements unusual in any way? Evaluate the significance of your results.
It is helpful to use nested If instructions in Excel. In this example two days of consecutive falls is the criteria for selecting the third day’s price movement. An instruction placed in C4 and copied and pasted to C365 with exchange rates from B1 to B365 would be:
Note that “ ”; is simply a double inverted comma, Excel ignores gaps so “ ” will also work. Once applied, choose ‘Data’ and ‘Sort’ from the toolbar to get rid of the blanks.
Note that the Excel formula can be varied so that for instance
Experiment with the fomula to obtain the desired pattern.
Step by Step Answer:
