Flurry Of Mergers Intensifies Liquidity Concerns Participants Say New York Market is Hardest Hit

BANKS

The recent flurry of bank mergers has intensified the already considerable concern among market participants about liquidity in the foreign exchange market, particularly in New York, where, many say, activity has already eroded dramatically. Market participants say that the drop is becoming particularly noticeable in the New York afternoon and few are optimistic about what lies ahead.

"The problem is exacerbated in the afternoon, when Europe goes home," says one foreign exchange broker in Lon

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