November 2011
Beginner
335 pages
9h 33m
English
Content preview from Inside the Currency Market: Mechanics, Valuation, and Strategies
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CHAPTER 4
Short-Term Interest Rates and Money Market Instruments
The purpose of this chapter is not necessarily to know how to trade repurchase agreements although a full outline is presented. Instead, repurchase agreements represent the shortest-term interest rate within a nation, the prime mover of a spot price. These shortest-term interest rates can connect to a currency price through factors of interest. Factors of interest for repurchase agreements represent the shortest-term deposit rates and deposit rates represent the bid side of a currency pair. It determines the cost of money. A bid side rate represents the floor for rates, so it is imperative to understand this market.
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