For signs of where the action is in the $7.5 trillion-a-day currency trading market, look no further than Apple Inc.’s balance sheet.
The technology giant is sitting on $135 billion in foreign exchange derivatives, some of which are used to hedge against currency fluctuations across its many markets. Alphabet Inc. has about another $60 billion of these contracts. In comparison, the world’s currency-focused hedge funds manage just $78 billion – combined.
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