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"Merrill Lynch is investing in FX like it has never done before -- it is ready to take its FX business to the next level" -- Cinta del Monaco-Kemp, deputy head of global FX at Merrill in New York, on the bank’s hiring spree in February.

"We have no idea how this happened" -- Spokesperson at the Central Bank of Ireland in Dublin on February 8, after Allied Irish Banks published details of a $750 million forex fraud.

"Currently, the most common approach to currency within institutional portfolios is

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