LOOSE CHANGE
LOOSE CHANGE
Little has been learned from sterling's fall from grace on 'Black Wednesday' five years ago, say traders in London, who by and large say they expect another attack on the Exchange Rate Mechanism sometime between now and January 1, 1999. "What Black Wednesday demonstrated was that politicians cannot beat the markets in the end--investors are not stupid and they will go for perceived weaknesses," says Derek Saville, head of treasury for the UK and Europe at Standard Chartered. "There's a big
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