Okay, I've found some strong candidates for external links:
- History/Origin: Bundesbank - "1973: The end of Bretton Woods When exchange rates learned to float"9 - Excellent for the shift from fixed to floating rates, directly relevant to spot rates.
- Practical Applications (General FX Market): Bank for International Settlements (BIS) - "Triennial Central Bank Survey of foreign exchange and Over-the-counter (OTC) derivatives markets in 2022"8 or "Triennial Central Bank Survey, Foreign exchange turnover in April 2019"7. The 2022 one is more recent. This is the authoritative source for FX market size and structure.
- Limitations/Risk: Association for Financial Professionals (AFP) - "Understanding Foreign Exchange Risk"6 - Highly relevant for discussing risks associated with FX, and spot rates are part of that.
- How it works/Central Bank role: Federal Reserve Bank of New York - "Foreign Exchange Operations"5 - Explains how central banks intervene and how FX transactions work, very good for interpreting and applications.
I have 4 verified, live, and relevant external links from different trusted domains (Bundesbank, BIS, AFP, Federal Reserve Bank of New York).
Now, let's build the internal LINK_POOL and then write the article.
LINK_POOL (Internal - 15 unique):
- Exchange rate
- Currency pair
- Foreign exchange market
- Interest rate
- Arbitrage
- Liquidity
- Bid-ask spread
- Settlement date
- Derivative
- Futures contract
- Options contract
- Hedging
- Speculation
- Spot transaction
- Forward rate (for RELATED_TERM)
Auto-inferred:
- [TERM]: Spot rate
- [RELATED_TERM]: Forward rate
- [TERM_CATEGORY]: Financial markets
I will now proceed with writing the article, incorporating all the elements and adhering to the style and quality rules.
I will double-check all links are used exactly once.
I will ensure "Spot rate" appears at least four times.
I will ensure no formula section as it's a direct quote.
I will remove the LINK_POOL table from the final output.1234