FIVE YEARS AGO IN FXW
FIVE YEARS AGO IN FXW
"Vendredi Noir" Erm Currency Crisis Subsides
FX gains from the "Vendredi Noir" crisis in the ERM on July 30, which brought the French franc back to earth, were hard-earned.
The lion's share of profits were taken by investors on July 30--two days before the decision to widen the currency bands to 15 per cent for all except the Deutsche mark and Dutch guilder, say sources.
FXW
, August 9, 1993Editor's note:
"Vendredi Noir" occurred almost a year after the initial run on the ERM, which forced sterlingOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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