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Currency Trading Falls Into Torpor
Currency-trading volume is shrinking at the fastest pace since the financial crisis, the latest sign of the placid conditions that have frustrated traders in markets around the globe this year. The amount of money changing hands daily in foreign-exchange markets on average fell about 8% in April compared with the same period a year earlier, to $4.1 trillion, according to a survey by six central banks released Monday. The drop was steepest in North America, where volumes plunged nearly 20%. The survey covered about 80% of global currency trading. Traders say opportunities to bet on big currency moves are few and far ... (full story)
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take what you can take, before market take it back
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