{"product_id":"forex-forever-ranald-c-michie-9780198903697","title":"Forex Forever: The City of London and the Foreign Exchange Market Since 1850","description":"The world's largest market is that for foreign exchange with a turnover running into trillions per day. The mystery is why this market is dominated by trading in London when the US dollar is the main currency in use. What role is played by this market? To many it is a speculator's paradise, exposed to manipulation and contributing to currency volatility. For others it plays a central role in in the operation of the global banking system and a mechanism for maintaining currency stability. \u003cp\u003e\u003c\/p\u003eIn \u003cem\u003eForex Forever\u003c\/em\u003e, Ranald C. Michie seeks to provide answers to these and other questions by examining how the foreign exchange market has developed in the City of London over the past 150 years and uncovers its secret existence in London before the First World War. \u003cp\u003e\u003c\/p\u003eMichie explores how the City of London became the centre of the global foreign exchange market before 1914 through the international banking network, trading on the floor of the Stock Exchange, and the communications revolution that began with the telegraph. He investigates how that position was sufficient to make London the centre of a new foreign exchange market that emerged between the wars, survived the era of fixed exchange rates after the Second World War, and then flourished from 1970 onwards. This in-depth study helps to explain how and why the global monetary system has functioned since the middle of the nineteenth century.\u003cbr\u003e\u003cbr\u003e\u003cb\u003eAuthor:\u003c\/b\u003e Ranald C. Michie\u003cbr\u003e\u003cb\u003eISBN-10:\u003c\/b\u003e 0198903693\u003cbr\u003e\u003cb\u003eISBN-13:\u003c\/b\u003e 9780198903697\u003cbr\u003e\u003cb\u003ePublisher:\u003c\/b\u003e Oxford University Press\u003cbr\u003e\u003cb\u003eLanguage:\u003c\/b\u003e English\u003cbr\u003e\u003cb\u003ePublished:\u003c\/b\u003e 06\/29\/2024\u003cbr\u003e\u003cb\u003ePages:\u003c\/b\u003e 368\u003cbr\u003e\u003cb\u003eFormat:\u003c\/b\u003e Hardcover\u003cbr\u003e\u003cb\u003eWeight:\u003c\/b\u003e 1.49lbs\u003cbr\u003e\u003cb\u003eSize:\u003c\/b\u003e 9.43h x 6.33w x 1.01d","brand":"Ranald C. Michie","offers":[{"title":"Hardcover","offer_id":48437881307391,"sku":"9780198903697","price":145.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0662\/2982\/9887\/files\/img_5825576c-ec22-43c4-8725-8ab0b61bec7a.jpg?v=1777167406","url":"https:\/\/www.whiterainbookhouse.com\/products\/forex-forever-ranald-c-michie-9780198903697","provider":"WR Book House","version":"1.0","type":"link"}