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Ege Academic Review
In the literature, the effectiveness of the foreign exchange market is an important concept for traders and policy makers, if price reflects all information in the market, this market is said to be efficient. In other words, Fama et al. (1969) term of the efficient market were defined as a market which " adapt quickly to new information". At the weak form efficiency, in the market, all prices, past prices or returns can be reflected in all the information, on the other hand, at the semi-strongdoi:10.21121/eab.2014418017 fatcat:x232talqlrduheovxw4npwqo7u