Fabio Spagnolo, Zacharias Psaradakis and Martin Sola, "Testing the Unbiased
Forward Exchange Rate Hypothesis Using a Markov Switching Model and
Instrumental Variables", Journal of Applied Econometrics, Vol. 20, No.
3, 2005, pp. 423-437.

All data are in the file sf.dat, an ASCII file in DOS format. This file is
not zipped, because it is very small.

There are three columns in the data set. The first column contains the
dates of the observations, which range from January 1987 to December 2000.
The second and third columns contain the monthly spot and forward (thirty-
day rate) Sterling/Dollar exchange rate, respectively.

Fabio Spagnolo
Department of Mathematical Science
Brunel University
Uxbridge UB8 3PH
United Kingdom

Email: fabio.spagnolo@brunel.ac.uk