Homework SourseThe table outlines the 2012 currency trading volumes for the
The table outlines the 2012 currency trading volumes for the most highly traded currencies. Currency trading is defined as trading one currency for another in anticipation of making money.
CURRENCY
DAILY SHARE (%)
US DOLLAR
84.9%
EURO
39.1%
JAPANESE YEN
19.0%
BRITISH POUND
12.9%
AUSTRALIAN DOLLAR
7.6%
SWISS FRANC
6.4%
CANADIAN DOLLAR
5.3%
NEW ZEALAND DOLLAR
1.6%
OTHER CURRENCIES
23.2%
TOTAL
200.0%
Why does the DAILY SHARE (%) total 200.0% rather than 100.0%?
| CURRENCY | DAILY SHARE (%) |
| US DOLLAR | 84.9% |
| EURO | 39.1% |
| JAPANESE YEN | 19.0% |
| BRITISH POUND | 12.9% |
| AUSTRALIAN DOLLAR | 7.6% |
| SWISS FRANC | 6.4% |
| CANADIAN DOLLAR | 5.3% |
| NEW ZEALAND DOLLAR | 1.6% |
| OTHER CURRENCIES | 23.2% |
| TOTAL | 200.0% |
Solution
The return of a Fund for a period longer than a single trading day will be the result of each day
