June - The return of volatility

Volatility returned to the forex markets in June due to a combination of the reversing dollar trend and an influx of investors fleeing the equity markets.

New evidence that there was real money behind dollar-selling -- as opposed to speculative flows -- convinced the market the decline of the US currency would be long-term.

The turnaround came after lacklustre trading in forex in the early part of the year, leading one market participant to brand the first quarter one of the dullest peri