AUTOREFRESH 
No surprise, big banks see limited client flows
By Jamie Coleman || July 16, 2009 at 15:50 GMT
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As we noted yesterday, much of the volume in recent days has been professional in nature with banks, central banks and hedge funds the primary players, throwing around big blocks among themselves. Given that we’ve been in a narrowing range for months, there is little need for end-users of currency markets like corporations and institutional investors to protect themselves against potential adverse moves. Only breaking free of recent ranges will bring those players back to the market to take positions that will not be liquidated 15 minutes later for a 25 pip profit…
Ouch! You know all those pips add up eventually though, don’t you …