Cambist

Cambist

A trader or other expert in foreign exchange. Cambists are usually successful in trading currencies in their own right, and companies engaged in international trade may employ them to help reduce currency risk. Cambists must be able to read market factors that may affect a currency's value, but must also consider political factors as well. For example, in 1992 George Soros short sold $10 billion worth of British pounds on the United Kingdom's reluctance to either let its currency float or raise interest rates. Soros earned over $1 billion by considering both the economic and political situations surrounding the sterling.