Currency

FX Traders, Take Heart: Even Keynes Lost His Shirt

Currency markets almost bankrupted the greatest economist of his generation.

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It's a year since the Swiss National Bank toppled the currency markets into chaos by abandoning a pledge to stop the franc from appreciating against the euro. Talk to any trader in the currency markets and they'll tell you life has gotten harder in recent years. If it's any consolation, though, trading has been tough since the birth of the foreign-exchange market -- even for the greatest economist of his generation.

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