Foreign exchange dealing rooms at times of peak activity resemble bedlam. Shirt-sleeved dealers look at computer screens, talk into several phones at once and yell to colleagues. They talk in the space of minutes to key centres — London, New York, Paris, Zurich, Frankfurt. The phrases are terse and mysterious — ‘What’s cable?’; ‘50/60’; ‘Mine!’; ‘Yours!’; ‘Cab1e70/80—give five, take three’; ‘Getme dollarmark, Chemical Hong Kong’; ‘tomnext’; ‘What’s Paris?’
KeywordsExchange Rate Interest Rate Central Bank Foreign Exchange Forward Rate
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