According to online reports, Bank for International Settlements (BIS) data showed that global foreign exchange market transaction volume jumped to a record high due to violent exchange rate fluctuations triggered by U.S. trade tariffs. Preliminary survey results show that the average daily turnover of over-the-counter (OTC) transactions in April reached US$9.6 trillion, an increase of 28% compared with the same period in 2022. At the same time, average daily trading volume of OTC interest rate derivatives surged 59% to $7.9 trillion. This month-long market snapshot coincides with the most turbulent foreign exchange trading period this year. Trump's "Liberation Day" tariffs announced on April 2 shook global assets and weakened the US dollar due to its safe-haven status. A JPMorgan Chase exchange rate volatility index rose to its highest level in two years that month.