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Why Has FX Trading Surged? Explaining the 2004 Triennial Survey

8 Pages Posted: 15 May 2012 Last revised: 29 Sep 2013

Gabriele Galati

De Nederlandsche Bank

Michael Melvin

University of California, San Diego (UCSD) - Rady School of Management; CESifo (Center for Economic Studies and Ifo Institute)

Date Written: December 1, 2004

Abstract

The 2004 survey shows a surge in traditional foreign exchange trading. This seems to have been driven by momentum trading and carry trades in a global search for yield on the part of institutional investors and leveraged players as well as by hedging activity.

JEL Classification: F31, C42

Suggested Citation

Galati, Gabriele and Melvin, Michael, Why Has FX Trading Surged? Explaining the 2004 Triennial Survey (December 1, 2004). BIS Quarterly Review, December 2004 . Available at SSRN: https://ssrn.com/abstract=1967461

Gabriele Galati (Contact Author)

De Nederlandsche Bank ( email )

PO Box 98
1000 AB Amsterdam
Amsterdam, 1000 AB
Netherlands

Michael Melvin

University of California, San Diego (UCSD) - Rady School of Management ( email )

9500 Gilman Drive
Rady School of Management
La Jolla, CA 92093
United States

CESifo (Center for Economic Studies and Ifo Institute)

Poschinger Str. 5
Munich, DE-81679
Germany

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