Foreign Exchange Rates : Taylor & Francis Ltd : 9780367609917 : 08 Feb 2021 : "Predicting foreign exchange rates has presented a long-standing challenge for economists. However, the recent advances in computational techniques, statistical methods, newer datasets on emerging market currencies etc. offer some hope. While we are still unable to beat a driftless random walk model, there has been serious progress in the field. This book provides an in-depth assessment of the use of novel statistical approaches and machine learning tools in predicting foreign exchange rate movement. Firstly, it offers a historical account of how exchange rate regimes have evolved over time, which is critical to understanding turning points in a historical time series. It then presents an overview of the previous attempts at modelling exchange rates, andhow different methods fared during this process. At the core sections of the book, the author examines the time-series characteristics of exchange rates and h