“For the last three or four years there has been a gradual reduction of staffing on foreign exchange desks for doing these intra-European trades partly because the volume has declined,”
“Markets want to hear some kind of hint that they'll back up these words with action, specifically intervention in foreign exchanges to drive the euro higher.”
“For most people in financial markets, this is typically put in a box labeled 'too difficult'. There's just no sensible way of producing a systematic probability of the outcomes and it's very hard to put numbers or values on it.”
