Prologue
6:45 a.m. As he walks to his trading desk, Rupert can’t help feeling the conflict. Ten days ago, based upon the announcement by South Korea to curb the appreciation of the Won against the US dollar, he had committed the bank to a large, complex position in Asian and British Pound currencies. He is excited, as the position, although within his allotted limit, is the largest bet in his seven-year career at the bank. He feels comfortable holding it until next Tuesday or Wednesday. And so far so good, but the thought of leaving his desk with such a large open position for about four hours during the prime hours of the Pound trading later in the day is making him somewhat uncomfortable. Anything can happen!
At the same time, he is looking ...
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