UK Banks Boost Forex Profits
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LONDON -- UK banks defied the downturn in global mergers and acquisitions (M&A) activity and the reduction in total FX turnover to report boosted forex trading revenues for first-half 2001.
Barclays Capital, Standard Chartered Bank and Lloyds TSB all reported their interim results last week, showing modest increases in their FX trading revenues.
They attributed the results to increased client business and emerging markets volatility, which helped them beat a trading environment that could not
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