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Currencies go wild as Fed leaves traders in limbo

Traders are entering "a new era" for currency volatility. The Fed's data dependence, declining currency reserves and regulatory changes mean elevated price swings will characterise the US tightening cycle more than in the past.

New York

FOREIGN-EXCHANGE volatility, already the highest in four years, looks set for an extended stay after the Federal Reserve rattled markets last week by not raising interest rates.

With the central bank leaving the question of when it will move hanging over markets, its focus...

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