Who controls the forex market?

The Forex market is decentralized, meaning that there is no central authority or institution that controls it. It is a network of currency traders, banks, financial institutions, and individuals who buy and sell currencies on a global scale. However, central banks play a significant role in the Forex market, as they have the ability to influence currency values through monetary policy decisions such as interest rate adjustments and currency intervention. For example, the U.S. Federal Reserve, the European Central Bank, and the Bank of Japan are among the central banks that have significant influence on the Forex market. In addition, major financial institutions, such as investment banks and hedge funds, also play a role in the Forex market by executing large trades and providing liquidity. In conclusion, while there is no single entity that controls the Forex market, central banks and major financial institutions have significant influence over currency values and market movements.