Black Wednesday revisited
MARKET VOICE
September 16 marks the 10th anniversary of one of the FX markets’ most turbulent days. James Trott, chief dealer at the Bank of England at the time, recounts Black Wednesday
As chief dealer of the Bank of England on Tuesday September 15 1992, had I known what the next 24 hours were to hold in store, I think the need for an urgent ‘late summer break’ may have become paramount. The next day saw the exit of sterling from the European exchange rate mechanism. Although the end was sudden, that day was
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