Euro, Market Stability Reduce FX Levels
LONDON--The relative stability this year compared to the tumultuous markets in 1998--in addition to the development of the euro as a single European currency--has effectively reduced the volumes of trading of foreign exchange instruments as risk management tools. The drop in foreign exchange trading noted by reports released by the larger broker-dealers could be a sign that financial institutions see fewer arbitrage opportunities, as well as relatively mild market conditions in the near term
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