Low volatility driving forex turnover down, says Bank of England FX chief
The gradual decline in volatility in the foreign exchange market is making it more difficult to profit from foreign exchange, which is consequently driving turnover down in all the major financial centres, according to a senior official at the Bank of England.
Speaking in a keynote address at the FX Week Europe conference in London this morning, Michael Cross, global head of forex and reserves management at the Bank of England, outlined a number of factors that have contributed to a reversal in
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