Canadian Banks Report Forex Gains Flat To Down For Third Quarter
BANKS
Canadian banks reported third-quarter earnings last week for the quarter ending in July, showing foreign exchange gains mostly flat to slightly down both over the third quarter of last year and over the second quarter of this year. Most executives attributed the slight drop to a falloff in volatility, both in the market generally, and more particularly in the Canadian dollar. They were also worried about declining liquidity in the Canadian dollar market.
Bank executives, however, expect the
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