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Wavering CFTC

Source: Financial Times, 21st October 2009

Though it is one of America's chief market regulators, the Commodity Futures Trading Commission has shown a shaky grasp of the basic forces that determine prices - supply and demand. In recent days though, key commissioners have softened their tone on limiting "excessive speculation" as it became clear proposed rules would drive business to unregulated products or foreign exchanges with little effect on prices.



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