Social Studies, 06.12.2019 22:31 SophieStar15

The world relies on the foreign exchange market. when buying foreign goods and services or investing in other countries, individuals and companies need to purchase the currency of the country where they are transacting business. currencies are traded everyday in the fx market to be used for direct foreign investments, import and export needs of companies and individuals, purchases of foreign instruments, and managing existing positions. in addition, the fx market is often used as a means to obtain profits from short-term fluctuations of exchange rates. the u. s. dollar, the euro and the japanese yen dominate the foreign exchange market. these hard currencies, representing the world's largest industrialized economies, are always in demand and make up 80% of the fx market trades

a) these hard currencies are tied to the gold-standard.
eliminate
b) they have the lowest interest rates and highest gdp.
c) the three main trading centers are located in these countries.
d) these hard currencies represent the largest industrialized economies.

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The world relies on the foreign exchange market. when buying foreign goods and services or investing...

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