Any currency, of course, can be traded on the Forex market – all you need is a willing buyer and a willing seller. In practice, however, a small number of currencies dominate the Forex market. The most heavily traded currency is the United States dollar...
Forex businesses generally are able to remain profitable and cash flow positive in any economic climate due to the fact that they are able to render a service that is in constant demand among the general public...
How a foreign Exchange transaction is conducted...
From NY Fed
From a 1998 publication by the NY Fed...
Global Foreign Exchange Market Turnover in the Traditional Foreign Exchange Market...
A 24-Hour Market
It is a 24-hour market: The business day opens in Wellington, New Zealand, followed by Sydney, Tokyo, Hong Kong and Singapore...
Central Banks intervene in the foreign exchange market to influence the value of their currency...
Types of transactions...
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