Foreign Exchange Market Update
S
In recent news, The Foreign Exchange Market has surged from a 5 trillion dollar a day market, to a whopping 6.6 Trillion. This is due to the number of participants in the market increasing recently over the past few months. With Forex becoming more popular amongst individuals who’ve never had access to the markets before, average citizens are seeing nice returns. Forex is becoming an everyday household topic, whether or not you’re participating or not, the chances are you know someone who is. According to Bloomberg since 2016, the United States dollar has retained its “dominant currency” status and is responsible for 88% of all trades. All major currency pairs currently include the United States Dollar. The Euro has been gaining traction as well as it received an increase as well, despite claims of failure due to Brexit.
Saint Mitchell