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FX Traders Relish Volatile Markets After Years in the Doldrums
Scary times in currency markets mean boom times for the bankers that companies turn to in order to manage foreign-exchange risk. “Clients really need FX,” said Carlos Fernandez-Aller, who oversees a team of more than 160 as head of FX and emerging-market macro trading at Bank of America Corp. “It has been up in activity which has been very lucky for us,” and there’s little sign that volumes are going to abate down any time soon, in his view. The past few weeks has stirred the kind of activity in FX that many of those involved in trading nowadays have never even seen, at least within major developed markets. ... (full story)