Sydney Market Seesaws As Asian Markets Recoil


SYDNEY--As the world's forex associations prepare to gather in Sydney next week, Australia's role as the crossroads of Asia is undergoing a radical transformation.

Market sources say that while forex trading has largely shifted into the domestic currency in recent years, Sydney could emerge as the leading technology centre for the Asia-Pacific region.

Gary Berrell, Westpac's FX manager in Sydney, is upbeat about the future of the market. "The trading banks have responded well to the changing