Cultures of Expertise in Global Currency Markets

Notwithstanding financial crises, global foreign exchange markets have undergone a tremendous growth during the last two decades. Foreign exchange (FX) is often thought of as a site where economic actors exchange currencies for buying foreign goods or selling goods in foreign countries, but the FX markets are better understood as financial spheres, dominated by speculative actors.

A key question is how this huge global speculative sphere has developed, and what maintains it. Thus far, global...