FX volume to exceed $3 trillion by 2007: TowerGroup research
NEWS
This represents a 78% rise over last year when volumes reached $2.018 trillion, said a report from research company TowerGroup (see figure 1). The firm said that growth was largely driven by mutual funds and pension portfolios with hedge fund activity having slowed.
The fund management community has been treating FX as an asset class and making cross-border investments an attractive alternative to lacklustre US investments, said Tom Price, senior analyst at TowerGroup. Another factor in the rise
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