What Black Wednesday teaches today's traders

In 1992 the pound was forced out of the European exchange-rate mechanism and collapsed, while George Soros's fund reportedly made a fortune. The lessons — pegs break, markets can overwhelm central banks — still apply.

What do you take from it?

• the lesson you apply to today's markets
• how you'd spot a similar setup forming
• which current pegs or bands worry you

The Black Wednesday guide tells the full story.