FX Volume Hit All-Time Peak Last Wednesday But EMS Chaos May Ultimately Be A Mixed Bag
BANKS
"It was mind-boggling: in 22 years of trading I've never seen anything like the sheer volume," says David Adamson, treasury director of Chase Manhattan Bank in London, in a comment echoed by almost all other market participants surveyed last Thursday. But traders in Europe and London were looking ahead with trepidation--as well as exhilaration--after what some called the heaviest trading day in the history of the foreign exchange markets.
Traditionally, with the volume comes the reward, and for
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