Foreign exchange has long been seen as the poor relation of the investment banking family, with little of the raciness and lucre enjoyed by equities, fixed income and commodities. But in the wake of the credit crisis, foreign exchange is mounting something of a resurgence.

With revenues and profits from fixed income hit by the turmoil, share prices plunging worldwide and the boom in commodity prices easing off from a record run, foreign exchange as an asset class is fast regaining the lustre it lost amid the bull run of the past five years.