Mergers And Global Volatility Dominated 1998 FX Market Activity

REVIEW

LONDON--As trading begins in the new European currency, market participants are looking back on a momentous year during which the markets geared up for this historic event.

However, at times those preparations seemed to be overshadowed by a series of events which made for a busy year for the global FX markets.

With every week that passed, there appeared to be a new mega merger on the cards or a fresh twist in the markets themselves.

Above all, 1998 was characterized by two clear trends, a

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