US Banks Report Mixed Q1 Results, Reflecting Variable Conditions In FX
BANKS
NEW YORK--The first wave of US banks are reporting mixed FX results for the first quarter, reflecting variable market conditions in which the Asian currencies have remained volatile while most of the European crosses have maintained stability, according to market sources.
"In general, the period has been weaker than previous quarters for most of the US banks," says one New York-based source. "It has been a challenging three months--with volatility down on the end of last year--and I think this is
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