The big story in the currency markets in 2004 was the decline and continuing weakness of the dollar. But the long-term story in foreign exchange is one of increasing competition – not so much in the area you would expect, price, but in the overall level of service that a bank can provide to its customers.
Pricing of currency derivatives outside the most exotic products has become increasingly commoditised, and leading firms are trying to entice and keep clients through other services. And no
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