U.S. Banks Expect Poorer Q4 FX Gains Compared To 1993
BANKS
The outlook for 1994 fourth-quarter foreign exchange trading revenues at the major U.S. banks is poor compared to the same period of 1993, according to trading managers and analysts contacted by FX Week. Full-year results will also be down from their year-ago levels, these sources say.
The usual hesitancy on the part of institutional clients and bank traders to establish positions at year-end was likely exacerbated somewhat due to the relatively poor trading results posted through the year's
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