FX industry passes Brexit test with flying colours
Despite biggest-ever sterling move, liquidity and infrastructure holds up without glitches
The foreign exchange industry has experienced no major disruptions or gaps in liquidity, despite the biggest-ever move in sterling overnight, with participants reporting orderly market conditions.
Expectations going into Britain's vote on its European Union membership were "very low" in terms of liquidity, and while some players feared that during the run-up to the results the major liquidity providers would stop providing prices – as happened during the Swiss National Bank's (SNB) shock move in
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