If you want to delve into the deep background of how everything works, check it out here.
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Four trillion a day goes through this market, maybe a hundred trillion in contracts out there yet not a penny of it shows up on bank balance sheets. One of the most important parts of the global reserve currency system remains opaque and poorly understood even thouth it has been the epicenter of global crisis twice including the 2008 event. Here's what you absolutely need to know about the shadow world of FX.
Eurodollar University's Money & Macro Analysis
RealClearMarkets Essays: https://bit.ly/38tL5a7