If today's exchange rate reflects all relevant public information about the euro's exchange rate, but not all relevant private information, then weak-form efficiency and semi strong-form efficiency would be refuted.
An exchange rate is the value of one currency as it relate to another country's currency. Here, it means the rate in which one currency will be exchanged for another.
If today's exchange rate reflects all relevant public information about the euro's exchange rate, but not all relevant private information, then weak-form efficiency and semi strong-form efficiency would be refuted.
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