War threat to Q1 FX profits

- By FX Markets Staff
- @FXMarkets_
- 14 Apr 2003

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Early indications are that banks’ volumes are down as uncertainty over the timing, duration and implications of the war kept clients away from FX in Q1 – despite a background trend for rising client interest in FX (see Client trading volumes rising).

“The focus in the first quarter was on basic major trades built around developments in the build-up to the war in Iraq,” said David Gilmore, partner at FX Analytics in Greenwich, Connecticut. “January saw more volume for banks than

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