arbitrage(国际金融香港大学,WONGKaFu) .pptx

An Introduction to  Exchange Rate Determination;How would you explain the movement of Japanese Yen? (source: );How would you explain the movement of Japanese Yen? (source: );How would you explain the movement of European Euros? (source: );How would you explain the movement of European Euros? (source: );How do we explain the movement of foreign exchange?;UC MacDonald;9、要学生做的事，教职员躬亲共做；要学生学的知识，教职员躬亲共学；要学生守的规则，教职员躬亲共守。6月-216月-21Saturday, June 19, 2021 10、阅读一切好书如同和过去最杰出的人谈话。14:27:4914:27:4914:276/19/2021 2:27:49 PM 11、一个好的教师，是一个懂得心理学和教育学的人。6月-2114:27:4914:27Jun-2119-Jun-21 12、要记住，你不仅是教课的教师，也是学生的教育者，生活的导师和道德的引路人。14:27:4914:27:4914:27Saturday, June 19, 2021 13、He who seize the right moment, is the right man.谁把握机遇，谁就心想事成。6月-216月-2114:27:4914:27:49June 19, 2021 14、谁要是自己还没有发展培养和教育好，他就不能发展培养和教育别人。19 六月 20212:27:49 下午14:27:496月-21 15、一年之计，莫如树谷；十年之计，莫如树木；终身之计，莫如树人。六月 212:27 下午6月-2114:27June 19, 2021 16、提出一个问题往往比解决一个更重要。因为解决问题也许仅是一个数学上或实验上的技能而已，而提出新的问题，却需要有创造性的想像力，而且标志着科学的真正进步。2021/6/19 14:27:4914:27:4919 June 2021 17、儿童是中心，教育的措施便围绕他们而组织起来。2:27:49 下午2:27 下午14:27:496月-21 2、Our destiny offers not only the cup of despair, but the chalice of opportunity. (Richard Nixon, American President )命运给予我们的不是失望之酒，而是机会之杯。二〇二一年六月十七日2021年6月17日星期四 3、Patience is bitter, but its fruit is sweet. (Jean Jacques Rousseau , French thinker)忍耐是痛苦的，但它的果实是甜蜜的。10:516.17.202110:516.17.202110:5110:51:196.17.202110:516.17.2021 4、All that you do, do with your might; things done by halves are never done right. ----R.H. Stoddard, American poet做一切事都应尽力而为，半途而废永远不行6.17.20216.17.202110:5110:5110:51:1910:51:19 5、You have to believe in yourself. Thats the secret of success. ----Charles Chaplin人必须相信自己，这是成功的秘诀。-Thursday, June 17, 2021June 21Thursday, June 17, 20216/17/2021 ? ;What would you do?;Effect of our action;UC MacDonald;Punch line:;HK MacDonald;HK MacDonald;Arbitrage activities continue until prices equalize. ;Prices at different locations, when expressed in the same currency, have to equalize. That is, ;If e