Central Bank Triennial Reports
Part 2 Peer Response
Based on the April 2010 survey, it may be projected that activity in the global foreign exchange market will show substantial growth in the next Triennial report. Specifically, it is predicted that the global foreign exchange market activity may hit the $5 trillion mark. This projection is informed by trends over the past years, with the 2010 report indicating that since the year 2001, market turnover has been increasing significantly (Bank for International Settlements, 2010). If this trend continues, then one may expect the market turnover to increase remarkably in the next Triennial report. Apart from this, the fact that a number of countries- China, Japan, and others- are rapidly growing to become influential players in the global economy may be interpreted to mean that there will be more activity in the global market. In regard to this, one may expect to witness more currencies becoming key players where global market turnover is concerned. What this means is that there will be a rise in volume of trade involving currencies such as the Japanese yen and the Chinese renminbi.
Part 2 Peer Response
You have given a precise answer to the question posed in the assignment instructions. In your, the U.S. dollar will have a bigger share in the global market during the next Triennial report. As you describe it, this is possible considering the consistent growth witnessed in the U.S. economy. Your explanation is supported by the past 5-year trend, and this makes a compelling argument. Nevertheless, I feel that you should explain further on the connection between commercial banking institutions and the projected growth in U.S. currency share. As it is, the second paragraph of your post seems to be presenting a totally different idea from the focus of the assignment.
Reference
Bank for International Settlements. (2010). Triennial Central Bank survey: foreign exchange and derivatives market activity in April 2010 preliminary results. https://www.bis.org/publ/rpfx10.pdf
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