World economies kept working towards better technology and economic stability throughout the 1990s. The more inventions the more demand for new products, which create fluctuation in FX rates. Several inventions occurred in the 90s that have made a drastic change to the world. In 1990 the World Wide Web was invented. German reunification was being completed, Gulf War began, and a number of civil wars still rage around the Middle East, Africa, and Eastern Europe. These events added to by others in the 90s determined the forex market.
FX Rates Jump
The Czech Republic put distance between Slovakia in terms of economy and politics in 1993. Rwanda suffered genocide and the Channel Tunnel opened in ’94. The World Trade Organisation was formed a year later and an American terrorist bombed Oklahoma City. Tony Blair was elected prime minister of the UK, the final transition for Hong Kong was in effect, and Princess Di was killed in a car accident. Add in Osama bin Laden starting to create trouble and FX rates are reacting. Individuals are starting to take notice of the market and more are starting to think about investing for profit, but lack the trust in a broker. The famine in North Korea is up to 2.5 million deaths by 1998 and still the world plugs on.
By 1999, more changes are happening like the euro being introduced. It was not accepted in all 11 countries yet, but it was working its way towards adoption. It was at least a concept glimmering to life. By now the population is at 6 billion and more and more deaths seem to be happening around the world, not just in small pockets.
You cannot forget that in 1994 the Internet is now a thing for homes. Anyone with a computer is starting to seriously think about the Internet, but there is still some worry over it too. Many dot coms are starting to come into light and online trading platforms are being formed for traders to take advantage of FX rates changing in seconds.
The 90s Sparked much Change in FX Rates
The simple creation of the Internet made certain the forex market would change forever. It was no longer a thing hidden in mystery because experts could start to fill up the Internet with their knowledge of how to trade on changing FX rates. The world was certainly starting to take notice of such an invention.
Today most countries have the Internet in major cities. While many go to cafes to log on, there are more and more homes benefitting from mobile devices allowing access. The changes in technology were so huge throughout the 1900s that by 1999 globalisation was a real thought. It was possible to see how cultures could open up and take notice of anyone half a world away. Just like earlier changes in the way the market worked, the forex market was and is expanding. Today anyone can log on to see FX rates. Anyone can trade on these rates with the right account and funds. A hundred years later and the world is more connected than ever.