Gross daily trading volumes are a poor gauge of how much capital investors have deployed in a particular market, seeking returns. A single international transac

Gross daily trading volumes are a poor gauge of how much capital investors have deployed in a particular market, seeking returns. A single international transaction may induce several forex trades, such as when the sale price of goods is denominated in USD or some other non-local currency. Combine that with the complex, usually leveraged hedging strategies employed by banks and multinational firms, and it’s easy to see whence such a massive figure comes.