Nordic Banks Show Strong Results From Forex In Latest Interim Period
BANKS
Most Nordic banks are showing strong interim foreign exchange revenues for the latest period. Gains are largely due to stability ahead of the planned single currency and to "predictable" market trends, says Morten Thorsen, Scandinavian economist at Standard & Poor's MMS International in London.
Thorsen says that from January onwards, the Finnish markka was generally steady until late April. However, the markka strengthened on the back of the Finnish economy until the end of July, Thorsen adds.
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