Herd investing and market inefficiency in forex markets over the COVID-19 outbreak: the multifractality analysis

Key Points

• Market inefficiency in forex markets increased during the COVID-19 outbreak due to herd investing.
• The analysis indicated a significant multifractality, suggesting complex market behaviors during this period.
• Data gathered from forex market trends before and after COVID-19 showcased notable changes.
• Findings emphasize the importance of understanding behavioral finance in economic crises.