PIPS
PIPS
Yves Mersch, the governor of the central bank of Luxembourg spoke out last week on the impact of the euro on the FX markets. "The reduction in foreign exchange wholesale activity, including derivatives, is regarded as one of the main negative effects of the introduction of the euro," said Mersch, who was speaking at a seminar in Tokyo. He went on to say that the single European money market would continue to grow, as would capital markets generally, but it would also lead to further competition
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