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FX Trading: A Guide To Trading Foreign Exchange, 2nd Edition by Peter Pontikis, Larry Lovrencic, Alex Douglas

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Chapter 5: Who’s who at the FX marketplace

Okay, by now you’re probably thinking that you understand the basic language, have a fair idea of the concept of free-floating currencies and you’re ready to take the plunge. But before this can happen, you need some idea of the playing field and just who the main players are.

Why does foreign exchange trading exist?

At the root of it all, international trade is the most obvious reason for the existence of the foreign exchange market. Importers buying goods in a foreign country need to sell their local currency and buy foreign currency to pay for the goods they have bought in the currency of the country in which they have bought them. On the other side of the trade equation, exporters will often receive ...

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