US Banks Q1 Earnings Show Downward Trend from FX
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NEW YORK--US commercial banks are reporting a generally downward trend in first quarter FX earnings. Among those that have released results so far, Chase Manhattan Bank has posted the highest Q1 profits from FX; although their results are down 30 per cent year-on-year.
Industry officials say the downward trend reflects lower market volatility and increased customer caution surrounding the launch of the euro.
However, US dollar/Japanese yen volatility and the devaluation of the Brazilian real in
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