FX Focus - Doubts over agency desk execution grow

Fears for liquidity as banks move away from market-making

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Proponents of any new idea can be forgiven for making the odd provocative claim. When eccentric English inventor Clive Sinclair set about promoting the C5, a dinky electric car, in the mid-1980s, he predicted that he'd easily shift a million of them. A new dawn had apparently arrived for personal transportation.

Or maybe not. Only around 5,000 were ever sold, demonstrating that over-ambitious claims should be met with a raised eyebrow, at the very least. It is this sort of scepticism that is now

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