Trading Currencies
The most traded currencies in the world account for US$1.5 trillion changing hands every day.
While nearly everybody has had occasion to change money when they travel abroad, forex traders can be dealing in international currency markets every day. Traditionally a marketplace for big banks and fund managers, now it is becoming increasingly accessible for private investors.
These short guides to each major currency look at the key factors influencing currency price in each region. When trading currencies use these insights to understand the relationships between your chosen pairs.
When are the foreign exchange markets open?
Forex is very liquid, meaning it is easy to buy and sell currencies, and the forex market is open all day. The global foreign exchange market for trading currencies opens in Australia on Monday morning, and closes in New York on Friday evening.
How can I trade currencies?
You can trade currency pairs with a Forex or Contract for Differences broker. These are leveraged products which means they involve greater risk. While there is an opportunity to increase your profits, there is also the chance of greater losses.
Broker | Minimum Deposit | Markets | Products |
---|---|---|---|
Pepperstone | £0 | Bonds Commodities Currencies Indices Stocks & Shares | CFDs FX Spread Betting |
With a strong focus on the trading experience, industry leading technology, low costs and award-winning client support, we feel that Pepperstone is a good option for the more established high volume day trader. | |||
FP Markets | $100 | Bonds Commodities Currencies Indices Stocks & Shares | CFDs FX |
FP Markets is an established ASIC, CySEC FSP and CMA regulated broker. They offer access to the industry leading MetaTrader platforms and provide pricing directly from the market meaning fast execution and transparent pricing. A 24/7 multilingual client support service has won recognition through the highly respected Investment Trends awards. | |||
FxPro | $100 | Bonds Commodities Currencies Indices Stocks & Shares | CFDs FX |
FxPro is a fully regulated CFD provider offering Forex, Metals, Indices, Futures, Cryptos and Stocks. Clients have access to over 2000+ financial instruments and the company serves clients in 173 countries worldwide. FxPro was voted ‘Best Forex Provider’ by The Armchair Trader readers for 2024. |
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Currencies News & Insight
What is the yen carry trade and why does it matter now?
French election galvanizes short euro FX trade
Sterling continues to make gains as gilt yields pick up
Riksbank is latest European central bank to cut interest rates
Is a resumption of the carry trade on the cards for forex traders?
What to do if the US dollar stays stronger for longer
USD vs JPY: more volatility in this key FX pair ahead this week
Three markets to watch if the Israel-Iran conflict escalates
Critical few days of trading in the USD/JPY market ahead
Japanese Yen market in focus as traders anticipate intervention from BoJ
Donald Trump and the Mexican economy: time to short the peso?
Why are FX markets suffering with low volatility right now?
Japanese yen in focus following intervention rumours
Is the Bank of England starting to lose the trust of investors?
Japanese yen pushing to new annual lows against USD amid bond turmoil
Institutional investors confident that Chinese yuan will reach reserve currency status
Are we entering the end game for central banks’ inflation battle?
China support for private sector boosts crude oil short term
US Dollar shorts could be in for a nasty reality check
Has the euro run out of steam against the dollar?
US Dollar and Gold in focus for CFD traders this week
Traders long Japanese yen, but bearish on Nikkei 225 index in May
Dollar rebound could be followed by price corrections
Is the Bank of England losing the plot?
The pound is rallying on the back of latest UK GDP data
Technical Analysis: JPY under pressure following BOJ comments
Fed Day on Wednesday: five key factors for traders to consider
Are there any positives for the pound ahead of the Bank of England meeting?
Is Japan the ticking time bomb in global forex and bond markets?
ECB December meeting: the three key takeaways for forex traders
Bank of Japan shakes forex markets with yield curve call
Traders favouring EUR vs GBP after packed week of central bank action
Traders turned to the short GBP trade for profits in Q3
Canadian dollar boosted by oil prices
Dollar strength versus Sterling and Euro weakness
Sterling bounces off lows against USD, gilt yields spiral higher
Are we heading for a collapse in sovereign debt markets?
Russia’s fx buying scheme to provide impetus for Chinese yuan?
Bank of England rate hike: recession on cards as GBP sells off
Boris and the pound: Gray Report means further sell off for sterling
Bank of England forecasts UK inflation to hit 10% in second half of the year
Can the UK really be turned into a world leading crypto hub?
Massive increase in USD/JPY volumes ahead of BoJ meeting
LUNA coin tests price record but can it go to the moon?
Forex market forecast: are you ready for the Fed?
Are we facing a long winter of discontent for the EUR?
Japanese Yen: the myth and reality of Japan’s currency in 2022
Euro starts to pick up as market looks to end of Covid restrictions
Sterling slumping as Omicron forces Bank of England’s hand
Forex markets: in the kingdom of the blind, USD is still king
Forex: UK unemployment numbers reverse the bearish sterling trade – more to come?
Catalysts for the markets following the upcoming BoE and FOMC meetings
Cardano (ADA): will Alonzo tech upgrade lead to break out move?
Can Federal Reserve avoid (Jackson) hole?
Solana is the hottest crypto property this week, but can it keep going up?
Economists caught off guard by UK CPI, but GBP shrugs it off
The “swinging” 6 T’s and why they are driving markets this quarter
Who are the top five Ethereum miners and how much are they making?
Dogecoin: experts forecast ‘pump and dump’ coin to hit 42 cents
The ‘Flippening’: will 2022 be the year Ethereum overtakes Bitcoin?
Bitcoin miners’ profitability surges on back of BTC rally
Central bank cryptocurrencies: Bank of International Settlements says lets work together
UK May growth numbers disappoint, but traders shrug it off, go long sterling
Comment: Fed’s Powell interest rate comment surprises markets
Second guessing the Federal Reserve’s monetary policy
Who is really driving the Bitcoin price at the moment?
FOMC preview: will sleepy markets be given a Fed wake-up call?
European retail investors turning bearish on sterling, Italian stocks – latest SERIX data
Traders turning to commodity-based currencies as prices surge
What is driving the USD, EUR, JPY, AUD currency markets?
Crypto prices sliding as Chinese regulators announce ban
Internet Computer coin (ICP): is it the next Bitcoin?
Is the Federal Reserve going to raise rates after all?
Can Spore Finance be the next SafeMoon?
Busy week ahead for sterling: Scottish vote and Bank of England meeting
Dogecoin price dropping: is it a question of credibility?
ECB meeting Thursday: EUR hawks will get more vocal if inflation picks up
Coinbase shares: high rewards, but the risks are huge too
Forex market analysis: the Dollar and the Three Bears
Ripple’s XRP: we look at the legal saga driving this cryptocurrency price higher
FOMC Review: Lower interest rates for longer
The world is shifting, and the markets are looking past this period of incredible uncertainty
Transitional UK budget unlikely to hit financial markets
Bitcoin: will latest moves by Mastercard and BNY Mellon help push price even higher?
Dogecoin: is this frothy crypto just a fad, or does it have legs?
What are the implications of the Tesla move into Bitcoin?
The UK, US and the Eurozone in the week ahead
Analysis: Pound Sterling soars as Bank of England issues bullish statement for 2021
Is it possible to benchmark your foreign exchange trading costs?
NZD forex trading forecast: analysts bullish on Kiwi as COVID stays away
The UK, US and the Eurozone in the week ahead
Expert UK Bitcoin panel sets target price of $51,951 by the end of 2021
A macro vision for 2021: Inflation, Banks and the future of QE
The UK, US and the Eurozone in the week ahead
The UK, US and the Eurozone in the week ahead
Forex strategy: what to do when the USD loses its crown?
Key thematic for 2021: Inflation testing the resolve of central banks
Valour goes live with Bitcoin Zero on Sweden’s Nordic MTF market
The UK, US and the Eurozone in the week ahead
UK Government adopts buy now, pay later scheme
The institutional awakening of Bitcoin and the crypto space
Wealthy investors piling into Bitcoin as price surges over $18,000
The prospects for an explosive move in the GBP and UK assets
Is Bitcoin starting to earn its place in the sun?
Sterling fast approaching day of reckoning
Blue wave election scenario – why the USD is going down hard
AUDNZD: trading central bank divergence
US election: Why a blue wave may be the USD’s most bullish case
Why this FOMC meeting could see significant volatility in markets
Game playing or the start of a no-deal?
Trading the EURUSD in the near-term
Indian rupee puts on 2% in one week as foreign investors buy in
GBP strengthens against JPY, looks to stage breakout on Abe resignation
Sterling struggles as traders wake up to hard Brexit possibilities
How is the COVID outbreak affecting online forex trading?
USD and GBP both developing nightmare scenarios for investors
FX spreads are biggest challenge under coronavirus, say pro traders
Managing forex spreads has been the biggest trading challenge for pro traders since the pandemic and resulting lockdowns began according…
Chinese Renminbi: the Canary in the coal mine?
Will Bitcoin halving lead to another BTC bull run?
Conservative FX markets testing (some) extremes
Brazilian Real (BRL) trade driven by USD strength in Q1
Range-trade making a comeback as global FX volatility falls
From black swans to flightless doves
Sterling slumps its way back to the 1980s
US dollar rallies as banks and corporates seek liquidity in busy week
The trend may not be currencies’ friend in very volatile markets
Financial markets gripped by “sell/buy now, think later”
US dollar market sees major sell off as currency traders buy EUR
Financial markets gripped by “sell/buy now, think later”
The UK, US and the Eurozone in the week ahead
What will be driving the Bitcoin price in the next few months?
The UK, US and the Eurozone in the week ahead
The UK, US and the Eurozone in the week ahead
The UK, US and the Eurozone in the week ahead
The UK, US and the Eurozone in the week ahead
Sterling traders and brokers braced for UK election volatility
The UK, US and the Eurozone in the week ahead
The UK, US and the Eurozone in the week ahead
The UK, US and the Eurozone in the week ahead
The UK, US and the Eurozone in the week ahead
The UK, US and the Eurozone in the week ahead
What does the future hold in store for the Euro?
The UK, US and the Eurozone in the week ahead
Bitcoin drop tests 200 day moving average
The UK, US and the Eurozone in the week ahead
Why are cryptocurrency prices so volatile?
The UK, US and the Eurozone in the week ahead
The UK, US and the Eurozone in the week ahead
The UK, US and the Eurozone in the week ahead
Are you getting value for money from your forex trading and hedging?
What’s happening this week in the US, UK and the Eurozone?
What’s happening this week in the US, UK and the Eurozone?
What to expect from the European Central Bank meeting on Thursday
What’s happening this week in the US, UK and the Eurozone?
What’s happening this week in the US, UK and the Eurozone?
Short of the Week: the British Pound
What’s happening this week in the US, UK and the Eurozone?
What’s happening this week in the US, UK and the Eurozone?
Powell and Lagarde dominate the week in currencies
DeVere CEO hits out at Congress’ stance on cryptocurrencies
Four things causing the great sterling summer sell off
What’s happening this week in the US, UK and the Eurozone?
Is the end of Euribor in sight?
What’s happening this week in the US, UK and the Eurozone?
Boris Johnson and the great GBP sell off of 2019
What’s happening this week in the US, UK and the Eurozone?
The next Bitcoin run is imminent says deVere CEO
Will Jeremy Corbyn wreck the UK gilts market?
European elections? It’s what comes NEXT that matters for the pound
EUR forecast: PMI numbers are bad news for ECB
April is the cruellest month, full of false hope - and so it is for the ECB and Mario Draghi:…
Will Brexit delay mean a relief rally for the pound?
The pound could benefit from a relief rally – but little else has changed - as Theresa May is forced…
Putting cryptocurrencies in your ISA
Following a tumultuous few years in the cryptocurrency space, including a boom and bust cycle that made the dotcom era…
Turkish lira liquidity shakes confidence ahead of local elections
The Turkish lira was focusing mind on emerging markets currency trading desks this morning, as the government in Ankara sought…
Five scenarios for the Pound following Parliament’s ‘indicative votes’
What is it about Iceland cryptocurrency mining that’s so appealing?
What is stopping Europeans from investing in cryptocurrencies?
New research commissioned by global cryptocurrency specialist Luno has revealed that nearly half (47%) of European countries are still sceptical…
Looking back on a crazy year in cryptocurrencies
This time last year The Armchair Trader was attending a Christmas party, and all people were talking about was Bitcoin…
Bitcoin ETF seems more elusive than ever
Is it game over for Bitcoin? That is increasingly what it looks like as seasoned cryptocurrency traders report more interest…
Smart contracts lie at centre of next Ethereum break out
Traders of cryptocurrencies have come to accept that much of what drives their values these days is the prospect of…
Nothing will end a strong USD faster than a strong USD
Saxo Bank has published its Q4 2018 Quarterly Outlook for global markets. Against an uncertain backdrop, the Outlook offered some interesting…
Italian bond market faces Doom’s Day scenario
Is the Italian government sailing the country towards a cliff? Its latest three year economic plan included an increase in…
A big week for the Bank of Japan and Shinzo Abe
There is likely to be plenty of action if you are trading Japanese yen (JPY) this week. Tomorrow the Bank…
Is it time to reverse that Turkish lira trade?
Turkey's central bank came out fighting this week, hiking rates by 24% from 17.75%. It was above the media expectations…
US and European economic data to provide USD and EUR focus
AxiTrader Analyst, James Hughes looks ahead to next week After last week was dominated by political issues at the White…
Why is the Turkish lira causing panic on stock markets?
The FTSE 100 and other European indexes are all in the red this morning because of the Turkish lira, a…
How could Brexit affect the pound?
How much could the UK pound fall? Why? Could it bounce back? What’s the long-term expectation for the pound if…
[Video] Chinese trade balance data to reveal effects of US tariffs
AxiTrader Analyst, James Hughes looks ahead to next week After what has been a huge few days for markets with…
[Video] Bank of England to raise interest rates and boost the Pound?
AxiTrader Analyst, James Hughes on The Bank of England's interest rate decision this week We have what could be a…
[Video] Trump and the Federal Reserve at odds over the Dollar
[Video] Euro in focus in lead up to ECB interest rate decision next week
[Video] Pound in focus this week as UK economic data released
[Video] Economic data and politics set the tone for currencies
Flow Traders confirms ETNs based on Bitcoin and Ethereum
[Video] Currency traders look to US non-farm payrolls
Barclays advises extreme caution with cryptocurrencies
[Video] PMI’s and US jobs report in the week ahead, but trade wars linger
Should you stay short of the Turkish lira?
[Video] Global trade wars and the US Dollar
[Video] Will the ECB start to taper it’s bond buying?
Bitcoin drops 10% after small exchange gets hacked
Italian bonds see liquidity vanishing as crisis deepens
Is Bank of England rate likely to rise as inflation cools?
Future Economic or Political Events That Are Likely to Drive Sentiment
Twitter boss is wrong to be so bullish on Bitcoin says deVere CEO
CFD broker HYCM launches trading of Ripple and Bitcoin Cash
Is Bitcoin a bubble, about to go bust or just getting a dose of reality?
Regulation within crypto currency markets
Tether coins investigation is bad news for Bitcoin
Private investors losing confidence in UK government
Morning Round-Up: The FTSE, Pound and Gold
deVere Group launches cryptocurrency app
UK inflation above 3% will force Bank of England to raise rates again
Morning Round-Up: FTSE, Dollar and US Fed rate rise
Bitcoin bubble – is it time to get out?
Bitstamp to offer trading in bitcoin cash
More cryptocurrencies available on AvaTrade platform
Bitcoin futures and share trading in London
Dollar strengthens as Euro and Pound lose ground
US Dollar lures investors at the expense of the Euro
Investor focus set to return to the Dollar later today
More worries for the Pound and the UK economy
The Pound waits nervously for Services PMI data
Hurdles for Trump’s tax reform affects the Dollar
US tax reform details maintain Dollar momentum
What would a Labour Government mean for the Pound?
The Dollar set to steal the spotlight
The Euro is the main focus for traders this week
Currency markets focus on tomorrow’s Fed meeting
The Pound remains the focus today with the UK Employment release
Investors to focus on the Pound with the UK’s Inflation report
Investors to focus on the Pound this week
Investors set to focus on the Euro today
Is the Euro likely to reach parity with GBP?
European PMI data to provide direction this morning
Bitcoin hits new record following cash split
Political tensions in Korea dominate sentiment
The Jackson Hole Symposium main event to take place this evening
Major currencies in focus as world’s central bankers meet
A positive start while investors set to focus on the Euro
US GDP to offer direction for the Dollar next week
Pound benefits from yesterday’s FOMC update
Data from Germany to keep the Euro in focus
European currencies set to take the spotlight
Investor attention turns to the Euro
US dollar under pressure following Yellen’s comments
Pound drops as hopes of an interest rate rise are dampened
Investor attention to switch to the Pound
The Brexit impact on financial markets
Pound under pressure as Conservative talks with DUP continue
Can the Canadian dollar continue its run?
UK inflation figures set to keep spotlight on the Pound
UK opinion polls driving the Pound
Investors look to UK Retail Sales while Trump dominates headlines
Inflation data to set the tone for the FTSE and Pound
Euro in the spotlight as ECB President set to speak
Investors relieved as Macron wins
ECB rate decision means all eyes on the Euro
Where’s the love for sterling?
French Election results boost the Euro
Europe set to take centre stage today
Politics to set the agenda for investors today
US Dollar hit by Trump’s suggestion it’s too strong
Syrian air strikes add to what was already a busy day for the markets
Changing faces at the Fed
Fed meeting minutes and Trump/Xi meeting weigh on Markets
Sterling and the US Dollar set to be in focus today
GBPUSD threatens to fall below $1.24 ahead of UK construction PMI
Last quarter’s manufacturing data in focus today
Brazilian Real – it’s not over yet
European economic data to set the tone
Markets lacking any real momentum
The UK all set to trigger Article 50
Attention set to focus on the triggering of Article 50
Trump’s Healthcare bill withdrawal dominates sentiment
US Healthcare vote set to determine next week’s sentiment
A quiet start following yesterday’s events in Westminster
European indexes a sea of red following US equity markets yesterday
UK inflation rockets to 2.3%, sends pound soaring
Buying a property abroad and facing the prospect of a weakening pound
UK to focus on this morning’s inflation figures
Markets continue to digest last week’s events
FTSE takes a breather having hit another record high
Federal Reserve meeting set to dominate
Sterling gives back yesterday’s gains
Quiet start in the shadow of Wednesday’s Fed meeting
The Chancellor’s Spring Budget set to take centre stage
A quieter start as investors focus on the latter part of the week
Deutsche Bank-led banking sector slide drags on FTSE et al
UK services slump drags sterling lower, Eurozone reading nears 6 year high
PMI Services and Fed speakers to set the tone for the day
Trump renews market optimism following his Congressional address
Markets flat ahead of US GDP and Trump Congress address
Sterling continues to suffer, euro boosted by consumer confidence increase
Pound hit by Scottish Referendum speculation
GDP data fails to ignite sterling despite Q4 revision
Pound hits high against euro while shareholders welcome Lloyds results
FTSE dips back under 7300 thanks to Unilever slide
Our Editor’s Short Trade of the Week: South African Rand
Commodities lead FTSE lower despite World Index fresh peak
G20 meeting in Berlin likely to provide today’s focus
UK wage growth falls as inflation continues to climb
Inflation disappoints pound despite hitting 32 month high
Dow Jones eyes 20400 as Trump rally returns
Trump tax promises continued to buoy markets
FTSE drops following better than expected manufacturing data
FTSE eyes 7300 following Thursday’s last minute surge
FTSE struggles with 7200, pound eyes $1.26
Euro still struggling thanks to Le Pen fears/Greek debt crisis
Euro continues to fall as Greek debt crisis returns to forefront
Pound and euro continue to suffer, Dow Jones at new highs
Pound and euro suffer on Brexit and Draghi/Le Pen respectively
Another sluggish start as Eurozone processes Le Pen threat
FTSE creeps above 7200 on lifeless Monday morning
FTSE shuffles into life at start of quiet Monday
FTSE rises on weak pound and strong banking sector
Sluggish start from FTSE and pound ahead of US non-farm
Bank of England too dovish for expectant pound
Pound nervy ahead of Bank of England forecasts
FTSE and pound jittery ahead of BoE ‘Super Thursday’
FTSE and DAX buoyed by respective manufacturing PMIs
FTSE rises ahead of manufacturing PMI
Dow Jones drops as Trump policies continue to drag
FTSE fails to piggy back on Tesco growth
UK Q4 GDP beats estimates but FTSE and pound fear 2017 slowdown
Dow Jones breaks 20000, May announces Brexit whitepaper
Sterling growth prevents FTSE from joining Trump rally
Pound falls following Supreme Court Article 50 ruling
Sterling awaits Article 50 ruling while BT sinks on Italian scandal
Dollar and Dow Jones both fall as Trump meets with manufacturers
Dollar still soft post-Trump inauguration
Pound hits 1 month high against dollar
Weak UK retail sales reading weighs on pound
Solid jobs data fails to spark change from FTSE or pound
Pound loses post-May speech shine ahead of UK jobs report
Pound storms ahead as May promises parliamentary vote on Brexit deal
UK inflation surge bolsters sterling ahead of May’s Brexit speech
GBP gains some strength against USD
Somewhat relevant to this story today, our own theoretical GBPUSD short shows just how upside down things can go if…
Pound rebounds ahead of UK inflation and May Brexit speech
US-less afternoon leaves Brexit-fearing pound as dominant force
GBP takes another beating ahead of more Brexit talks
Market News Focus remains on GBP at the start of this week after GBPUSD dropped 1% on the open yesterday…
Hard Brexit haunts sterling
Trump-fearing dollar allows pound to rise back above $1.22
Pound reassured by positive retail situation
FTSE 100 closes at record highs whilst the Topix underperforms
Markets await comments from Carney and Trump
GBP underperforming due to Brexit
Pound continues to plunge as Brexit fears re-emerge
GBP kicks off the week with a softer tone …
USD continues to weaken vs EUR
Services PMI surprise lifts pound from its lows
USD softening takes EURUSD higher
UK EU Envoy resigns
Pound boosted by UK Manufacturing PMI
FTSE 100 kicks off 2017 by approaching record high of 7200
Monte dei Paschi in trouble; Dow Jones edges ever closer to 20000
Presumed terror attacks threaten to waiver risk sentiment
FTSE and DAX off to slow start, GBP sits at month low against USD
Pound suffers after Deutsche Bank comments
USD retreats on heightened geopolitical tensions, China drone seizure
They finally did it!
Hawkish Fed dominates European markets as USD hits the limelight
FTSE and pound unimpressed by UK employment data
FTSE falls and pound steady ahead of UK jobs report
Sterling rises as inflation increase points to potential BoE rate hike
Sterling gains ahead of policy meetings and a busy week of UK data
The week ahead for 12 Dec 2017
Weekly Wrap for w/e 11 Dec 2016
EUR tumbles as Draghi stands ready
Draghi’s ECB QE extension boosts DAX but eviscerates Euro
Eurozone indices jittery as markets await Draghi press conference
The week ahead for 5 Dec 2017
DAX and CAC brush aside Renzi resignation
Euro falls as Renzi resigns following Italian referendum ‘No’ vote
Weekly Wrap for 28 November 2016
Focus on UK GDP today, investment data
Sterling takes advantage of Thanksgiving quiet to rise against dollar and euro
USD rallies ahead of Thanksgiving in the US
USD holds onto gains, market focus on Autumn statement
Fed talks interest hikes, US housing up
Investors’ focus fixed on the forex markets
The FX industry news summary for last week is crazy.
Pound disappointed as legal Brexit challenge tossed out of court
A sluggish morning continued this Friday, with the pound taking another lurch into the red following the somewhat unsurprising news…
Carney to testify before House of Lords
EURUSD at 4-month lows after QE tapering
via Barclays Market News EURUSD at 4-month lows after Draghi reveals that the ECB did not discuss tapering QE GBP…
21 October Market report – Resilient UK data continues
via Barclays Market News The ECB left rates unchanged, December’s meeting will be in focus Resilient UK data continues US…
[London] GBP maintains gains despite negative comments from BoE deputy governor
The pound’s May-inspired rebound has continued this morning, rendering the European indices inert. Still dining out on the news that…
Why did the pound flash crash?
Hard Brexit fears continue to grip GBP, with USD receiving extra anti-Trump boost
There was little change in the trading landscape this morning, the early reports of a potential £66 billion hard Brexit…
FX Daily Report Oct 11
Market News US and Asian equities made gains overnight, with crude rallying almost 3%, and Brent moving to a one…
[London] GBP bloodied by flash crash-inspired fear and bleak assessment from HSBC
The way trading has been this week it honestly seems like the market had collective amnesia between the end of…
FX Market Report, 7 October
Market News Cable GBPUSD plunged 6.1% overnight, the biggest intraday fall for the pair since the end of June. Cable…
Mind the gap: coping with forex volatility
Trading Turkey after the coup
Greek economic crisis reveals disparity in trader sentiment
South Africa probes forex trading
South Africa's Competition Commission has announced that it has opened a probe into price fixing by 11 banks, following in…