Forex, Fx or Foreign Exchange Market is a network of
the largest financial institutions in the world such as central banks,
commercial banks, and other financial institutions, corporate customers and forex
brokers, where foreign currency is bought and sold. Daily
forex trading in traditional forex exchange is very large and was estimated
at USD 1.5 trillion in 1998. The forex
market is a 24
hour global forex market
that works all week except Saturdays and Sundays with no
opening or closing hours. The four
largest forex
centers in the world are London, New York, Tokyo and Singapore. Usually
forex trading is brisk in North America mornings, or afternoons in Europe due
to both markets being open at the same time and usually due to new US economic
data being released. The forex trading
markets regularly trade a very wide range of currencies; however the majority
of forex transactions are in five major currencies: the US Dollar, the
Euro, the British Pound, the Yen and the Swiss Frank. The greatest
number of forex currency trades are made against the US Dollar. Visit
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Wednesday, March 26, 2008
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