FX Trading Activity In London Dips During Iraq-Kuwait Crisis
BANKS
Foreign exchange dealers in London report that trading activity during the first nine trading days of the Gulf crisis was lower than normal, apart from hectic activity on Thursday, August 2 when Iraq invaded Kuwait.
"No one wanted to gamble too much on how things might develop," a trader at National Westminster Bank said.
Dealers said that the main feature of trading was the dollar's loss of its safe-haven status. "If there were a threat of a nuclear war, it might have been different," a trader
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