Highlights•Two optical absorption peaks appearing after proton irradiation.•The transition and evolution of two kinds of radicals.•The population of free radicals decreased abnormally.
Highlights•Attention reallocation channel is an important contagion mechanism across FX markets.•Contagions are more pronounced for emerging countries with attention from developed markets.•Contagions generate rapidly and present relatively short-lived effects.•Contagions are barely affected by additionally controlling for liquidity.•The magnitude of contagions can be altered by past currency appreciation.