Every day, according to the Bank for International Settlements (BIS), four trillion dollars’ worth of currency flows through the foreign exchange market. The spot market and its dealers are at the heart of this activity. Every second of the day, the value of currencies changes, driven by global trade, investment, and speculation. This is a world where bulls and bears fight for control, where a "yard" is a billion, and "cable" is an exchange rate between two of the most active currencies.
This Foreign Exchange Course examines the fundamentals of foreign exchange, as well as the features, characteristics, applications, basics of pricing, and risks. Applications are explored for the main products, including spot, forwards, and options, as well as a wide variety of applications from different end-users vantage points, including banks, asset managers, institutional investors, and speculators.
