Canadian Banks Report Consistent Second-Quarter Forex Earnings
BANKS
Canadian banks are reporting consistent overall earnings from foreign exchange for the three-month period ended April 30, in year-over-year comparisons. Although earnings at some of the bigger Canadian banks are down from year-ago levels, most are up compared with first-quarter gains, when the Canadian banks suffered from a volatile Canadian dollar amid a number of political uncertainties (FX Week, March 7).
"So far, this has not been a really trending growth year for the foreign exchange
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