NY Fed's Kos on the foreign exchange market

In the speech 'Recent volatility trends in the foreign exchange market' given on 11 May Dino Kos of the Federal Reserve Bank of New York said there is a risk that the current period of low volatility in the foreign exchange market will not last, and market participants shouldn't be complacent.

Kos, head of the New York Fed's open market desk and executive vice president, said foreign exchange markets have been unusually stable in recent years, but no one knows why this has been the case.

"With

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