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Central banks and their monetary policy represent the main reason why fiat currencies fluctuate on the interbank market. Their decisions to tighten or ease the monetary conditions in an economy are closely monitored by traders and investors of all sorts.
Few traders are aware, though, that the international financial system is closely coordinated by another entity that acts as the mother of all central banks. Headquartered in Basel, Switzerland, the Bank for International Settlements is…
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