FX to survive M&A collapse

FRONT PAGE NEWS

LONDON -- The FX market is set to survive the collapse of global mergers and acquisitions activity, analysts and traders have told FX Week.

They were responding to data released by consultancy firm KPMG for first-half 2001, showing that M&A flows -- according to analysts the main driver in the FX markets -- are down 50--60% compared with last year (see chart below).

But, said Ray Attrill, director of FX analysis firm 4Cast in London, closer attention to the details of the data reveals some

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