UK Bonus Outlook Looks Bleak Despite Strong Year For FX
BANKS
LONDON--As the 1999 financial year kicks off, thoughts of staff on FX desks in the City of London, as elsewhere, are turning to their year-end bonuses.
Last year there were few complaints, as fat envelopes arrived for all but the unluckiest traders--and 1998 looked set to be another bumper crop, as bank after bank reported record highs in FX trading revenues.
Then came the rain, and forex desks were left standing as one of the few bastions in a sea of market turmoil.
This ironic set of
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