June 2005
Beginner
304 pages
5h 40m
English
book
Forex Revolution: An Insider's Guide to the Real World of Foreign Exchange Trading
by Peter Rosenstreich
Content preview from Forex Revolution: An Insider's Guide to the Real World of Foreign Exchange Trading
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2. The Currency of Trading in Everyday Life
A Fact of Life
It is essential to understand that Forex is a market that plays out in everyday life in a way that other markets do not. A fluctuation in currency value can have an impact on a nation's social, political, and economic conditions. In extreme situations, a nation's entire political structure can be shaken to the core.
Because of these high stakes, a government often uses all its power to control the value of its currency. It may decide that to protect its private citizens from international traders and stabilize its economy the government needs to control how its currency is traded. China, for example, has "pegged" its currency to the U.S. dollar, meaning that it has set a tight conversion ...
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