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Foreign exchange, the world's biggest market, is shrinking
The foreign exchange market's status as the world's largest, built up over decades of rampant globalization, deregulation and growth in financial services, is unlikely to be relinquished any time soon. But the glory days are over. Overall market volume and employment levels at the biggest banks trading currencies are shrinking, as tighter bank regulation, the fading emerging market boom and a secular slowdown in world growth and trade take their toll. Industry figures show the number of traders employed in Europe at the top 10 foreign exchange banks is down 30 percent over the last three years. Figures from the Bank ... (full story)