Select a key term from the key terms page located in the chapters in the Learn section. Do research on the key term and find an article that relates to the key term. You will provide a definition of the key term and a summary of the selected article related to the key term. Use 2 other outside sources to support your discussion.

Key Terms \& Concepts - Global financial markets - Borrowers \& Lenders - Federal Reserve Bank - Inflation - Minimizing economic risk - Speculators - Foreign Exchange Market (FX) - Exchange rate - Convertible currencies - Conversion rates - Hedging - Arbitrage - Speculation - Direct quotation (American) - Indirect quotation (European) - Spot rates - Bid \& Ask/Offer Rate - Forward exchange rate - Forward discount - Forward premium - Cross rates - FX swap - International Monetary Market (IMM) - Futures market - Law of one price - Institutions - Central banks \& Governments - Commercial \& Investment banks - Corporations - Professional money managers - International investors - Brokers - Interbank markets - Securities exchanges - Stocks - Bonds - Futures - Over-the-counter market (OTC) - Eurocurrency market - Volatility - Revaluation - Stable exchange rates - Unstable exchange rates - Gold Standard - Smoot-Hawley tariff act - Fixed/Pegged exchange rate - Bretton Woods Agreement - International Monetary Fund (IMF) - World Bank - Floating exchange rate - Managed float system - Currency Board - European Monetary System - Exchange Rate Mechanism (ERM) - Exchange Rate Mechanism (ERM II) - Maastricht Treaty v Economic and Monetary Union v EU Membership requirements v Convergence criterion