Expression in connection with expectations on foreign exchange markets. – If, within the participants on the foreign exchange market, an opinion has been formed as to which exchange rate trend the ratio of individual currencies – currently above all: USD to EUR – will exhibit, then this trend will also materialize; and this even contrary to objectively measurable economic variables. Behind this explanatory approach – ultimately: anticipating the expectations of others who are in the same situation – are considerations that are often derived from models of game theory (focal points). – See herd behavior, sinusoidal fetishism.
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