Fundamental and technical analyses are used for forecasting the future direction of the currency. A trader might test the market by hitting a bid for a small amount to see if there is any reaction.
Brokers cannot be forced into taking a principal's role if the name switch takes longer than anticipated.
Another advantage of the brokers' market is that brokers might provide a broader selection of banks to their customers.
Some European and Asian banks have overnight desks so their orders are usually placed with brokers who can deal with the American banks, adding to the liquidity of the market.
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