Without wishing to denigrate my current profession, I remember when I did my journalism course, I fell about laughing after my lecturer suggested that newspapers were a good place to check facts. I countered that whenever I read one that had something I knew anything about the journalist had usually got it wrong.
This rule applies to reports about financial markets generally and FX in particular. So I shouldn’t have been too disappointed when the Financial Times’ Alphaville looked at retail FX this week under the lurid headline: The $100bln FX hustle.
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