Whenever I'm in London--and I am as I write this--I'm drawn to thinking about the foreign exchange market. Perhaps my FX fascination was sparked by the kid at the bottom of my economics class at school who went straight into a L35K job at Tullett & Tokyo (it was a long time ago, okay?), while the rest of us went off to be poor in college. Or perhaps it comes from this market's unrivaled importance to the fortunes of Reuters.

As you know, Reuters just announced its first quarter results. As yo

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