Abstract
A microscopic explanation of exchange bias in thin films with compensated ferro/antiferromagnetic interfaces is presented. Full micromagnetic calculations show the interfacial exchange coupling to be relatively strong with a perpendicular orientation between the ferro/antiferromagnetic axis directions, similar to the classic “spin-flop” state in bulk antiferromagnets. With reasonable parameters the calculations predict bias fields comparable to those observed and provide a possible explanation for both anomalous high field rotational hysteresis and recently discovered “positive” exchange bias.