The FX market has experienced notable periods of stress in recent years, albeit not on the scale of the Swiss National Bank’s decision to abandon its peg to the Swiss franc in 2015.
For example, during the January Yen move, the market traded more than $1 billion in USD/JPY on EBS Market in less than a minute.
However, while Euromoney has previously reported on ambivalence towards circuit breakers as a mechanism for reducing market risk, opinion seems now to have hardened against these ‘collars’.
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