The Global Financial Crisis of 2008 was a major shock to the world’s financial markets. The crisis was caused by a combination of several factors, including tight credit, excessive government borrowing, an over-inflated housing market, and instability in the foreign exchange (forex) markets. The crisis spread quickly across the globe, causing bankruptcies, foreclosures, and declines in the stock markets. It had a major impact on the forex market, causing increased volatility and high trading volumes. This resulted in some of the most significant price swings in the history of the global markets.