HSBC released 20 currency traders in London on Friday, June 12, as part of a wider cut of 40 dealers in the investment banking division, confirms an official. Market sources estimate the bank had between 120 and 150 FX trading and sales staff before the cuts.

Wednesday, June 17, was a trying day for forex players, as US and Japanese authorities intervened to support the Japanese yen. Market participants say losses that day have caused a number of banks in the City to review their

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