Foreign Exchange Trading
The foreign exchange market or currency market or Forex is the financial market where one currency is traded for another currency, the FOREX markets one of the largest markets in the world.
Some of the participants in this market are simply seeking to exchange a foreign currency for their own, like multinational corporations which must pay wages to their emplyees and other expenses in different nations than they sell products in. However, a large part of the market is made up of currency traders, who speculate on movements in exchange rates looking to turn a profit, much like others would speculate on movements of stock prices. Currency traders try to take advantage of even small fluctuations in currency exchange rates.
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Featured News Articles
Currency Update 8th April
For all the obvious reasons the euro found itself at the bottom of the heap last week. It lost a cent and a half to the pound and a cent and three quarters to the US dollar.
Investors are not hugely impressed but they are satisfied that an existential threat to the single currency has been averted. The euro has not done as well on the week as sterling or the antipodean...
Cyprus Requires Euro Bailout
Cyprus has close links with Greek banks. They lend to Greek banks. When Greece required the bailout ongoing Cypriot money was lost in toxic debt and written off.