Forex revenues down at Deutsche
FRANKFURT – Low volatility, seasonally lower client activity and lower bid/offer spreads have hampered Deutsche Bank’s foreign exchange revenues, leading to a sharp year-on-year decline.
The German bank reported preliminary results for the fourth quarter and full year 2009 last Thursday (February 4) stating revenues in FX, money markets and rates were lower than the near-record levels in previous quarters in 2009, and “significantly lower” than the fourth quarter of 2008. Conversely, credit
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