"A global game explodes: currencies".

• Author: Rees, Matthew
• Position: Just the Facts: TIE's Executive News Service: THE DOLLAR ISSUE - Brief article

"In April, daily turnover in currency markets rose to $3.2 trillion, the Bank for International Settlements said yesterday. That's more in value than the annual economic output of Germany or China, changing hands in currency markets every day around the world. It's also up 71 percent from the BIS's last survey in 2004, the largest jump in volume since the institution began conducting its benchmark survey in 1989."

"Trading in financial derivatives linked to currencies soared to $2.1 trillion a day, the report said, a rise of more than 70 percent since 2004.... The most dramatic rise came in cross-currency swaps, in which two parties...