“…Bubák, et al [33] explore the dynamics of volatility transmission between Central European currencies and the EUR/USD and find evidence of statistically significant intra-regional volatility spillovers among the CEE foreign exchange markets, which tend to increase in periods that are characterized by market uncertainty. Andrieş, et al [34] investigate the co-movement of exchange rates in the CEE countries (Czech koruna, Hungarian forint, Lithuanian litas, Latvian lats, Polish zloty, and Romanian leu) against the euro for the 1999-2013 period, which revealed that interactions between them have different characteristics at different timescales, i.e., in the short and medium run the exchange rates are integrated, while the integration is weak in the long run. Kadlčáková and Komárek [35] examine the contagion phenomenon in the foreign exchange markets of three Central European countries (Hungary, the Czech Republic, and Poland) and the euro area, as the occurrence of extreme events taking place in different countries simultaneously.…”