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With Which of the following is true about short-run fluctuation of foreign exchange rates? It is well explained by the exchange rate overshooting theory. It

With Which of the following is true about short-run fluctuation of foreign exchange rates?

It is well explained by the exchange rate overshooting theory.

It is not affected by economic fundamentals

It is well described as a random walk.

It is totally driven by irrational behavior of market participants.

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