Bob Hope and no hope ...Talking of brokerage Cantors versus Tullets Careless talk costs jobs Citi joins the FICC club |
Bob Hope and no hope
After I wrote last week about RBS shutting down its FX prop trading desk, a couple of readers were swift to point out the irony in the timing of the decision. The desk’s closure came just before the majors finally broke free of the tight range that had constricted them for much of the last six months.
Whenever the market moves, many participants, analysts and observers scratch their heads and look for the reasons why. Various theories have taken hold to explain this latest bout of dollar weakness, some plausible, some ludicrous.