Summer Brings Changes To London Landscape Pension Funds Reign, FX Trading Gets Sporadic
BANKS
Summer is typically a time when activity in the foreign exchange markets wane, but bankers in London this year are noticing not so much a volume drop as an epidemic of herd trading. "Volume has been coming more in surges rather than in a nice constant pattern so we're seeing more liquidity problems," says Alan Brown, foreign exchange director at Chemical Bank in London. "Volumes arrive when the actual moves in the market are happening," he says.
Compared to last year at this time, Brown sees the
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