Global Macro Risks in Currency Excess Returns Staff Working Paper 2016-32 Kimberly Berg, Nelson C. Mark We study a cross section of carry-trade-generated currency excess returns in terms of their exposure to global fundamental macroeconomic risk. Content Type(s): Staff research, Staff working papers Topic(s): Asset pricing, Exchange rates, Interest rates JEL Code(s): E, E2, E21, E4, E43, F, F3, F31, G, G1, G12