US Banks Expect Strong Q3 FX Results Despite General Market Doom & Gloom
BANKS
NEW YORK--While most global markets experienced a tumultuous third quarter, with emerging markets and capital markets particularly hard hit, the major US banks are expected to show strong results as this sector begins releasing earnings this week.
"I'm expecting the US banks to have had a record quarter in FX," says David Gilmore, senior analyst and partner at Essex, Connecticut-based FX Analytics. "There has been a lot of volatility in just about every single currency you can think of--so
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