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The Beautiful Market

Foreign exchange today may seem too complex for the average person to grasp. The images of the market that dominate the media—walls of blinking computer screens, screaming traders, giant blocks of money traded at the speed of light, defined by an intricate interplay of events—reinforce this perception. But these images are actually part of a façade, masking a relatively simple transaction.

At its heart, each foreign exchange is a trade—an exchange of one monetary unit (currency) for another. Dealers and investors may employ intricate strategies or use technical trading language and develop rich models, but that doesn't fundamentally alter the act.


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