London
FOREIGN-EXCHANGE traders suffering the worst losing streak on record are getting no help from the world's most popular currency pair.
The euro moved in its narrowest range ever versus the dollar during the quarter just past. It's a prime example of the biggest challenge faced by dealers: the volatility they exploit for profit is falling throughout the US$5.1 trillion-a-day market, sending an index of top funds' returns tumbling for a seventh month in September.
The torpor is mainly due to central banks. The divergence trade that was supposed to see a rate-hiking Federal Reserve split from its peers and spur the dollar higher is sputtering, with a lacklustre US economy forcing officials to...
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