London's Position As Top Forex Centre Intact But Troubles Ahead
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LONDON--The latest Bank of England report on life after the introduction of the euro has been welcomed by City traders for its ringing endorsement of London as the continued FX centre for Europe.
Less positive, however, are the BoE's comments on trading volumes and structural changes to the FX marketplace. Analysts suggest that implicit from the BoE report is a 30 per cent contraction in the spot market this year.
"All the evidence is that since the launch of the euro that London has more foreign
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