We all like to use metaphors and analogies, although I’m led to believe they have no real place in journalism. Still, as I wrote only the other day, FX is a big enough pie for most people to get a decent meal.
I heard a new one at lunch on Monday: FX is like a cracked bath, where the taps are running but the water is leaking out. That, so my mucker claimed, should worry the major liquidity providers, because the leakage is going off to alternative platforms.
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