It's Getting Harder for Currency Traders to Make Money, Market Veteran Says

The $5.3-trillion currency market is getting harder for traders to make money in as price changes that once took months or weeks now happen more quickly, says Hugh Killen, Westpac Banking Corp.’s head of trading for foreign exchange, fixed income and commodities. Liquidity is drying up because investors and banks are shying away from taking risk, and that makes for sharper, quicker currency turns, said Killen, whose career in financial markets spans 27 years and positions in Sydney, London and New York. While volatility -- which...