Trading - a Mug's Game?

Strong words from the FT this morning are telling investors that currency trading is a mugs game.

Do you agree?

The FT says “Of all the mugs’ games in finance, currencies top the lot.”

The Lex article goes on to say that the rules of currency trading have been simple since the start of the credit crunch; “if the world was becoming riskier, you bought the dollar or the yen” but on ‘green shoots days’ traders make money “buying into higher-risk currencies such as Sterling or a commodity play such as the Australian dollar”.

The FT reports that the last two weeks have left currencies all over the place - up, down and back to where they were.

In the mean time the pound has collapsed and recovered against the Euro.

So, where are we? The FT says life has returned to normal as currency traders are looking bewildered again. Good news says the FT.

What do you say? Answers below please…