Britain's Plan To Join EMS Sparks Concern Less Sterling Trading = Less Sterling Traders?


Britain's plan to participate in Europeean Monetary System (EMS) should slow activity in Sterling, analysts say, likely leading to fewer trading jobs.

Once Britain joins the Exchange Rate Mechanism (ERM) of the European Community, activity in Sterling should diminish after an initial flurry when hot money finds a new home. "Inevitably, there will be fewer jobs for Sterling FX

dealers," says Jim O'Neill, a currency analyst at Swiss Bank Corp. in London.

"The Sterling/Deutsche mark rate will

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