Meanwhile, the index for the manufacturing sector fell temporarily to around the breakeven point of 50 reflecting the deceleration of the euro area and Chinese economies together with the “fiscal cliff” problem in the United States, but it has recently been recovering.
As you are probably aware, the various scandals and evidence of inappropriate behaviour in the global FX market that have come to light over recent years have seen an erosion of trust in the FX industry, which is impeding its functioning. This lack of trust is evident both between participants in the market, but at least as importantly, between the public and the market.