Extreme Value Strategies in the FX-Market
The foreign exchange market is known as one of the most efficient markets in the world, has a daily turnover of approximately $1.9 trillion and is open 24 hours a day seven days a week. In difference to what most people believe 80-95% of the market activity is of purely speculative behaviour. In order to speculate in market movements the investor needs to make a prediction of the future spot rate.
