US banks boosted by foreign exchange
NEWS
Bank of America (BoA), State Street and Citigroup all broke out figures for revenue generated from FX in the last quarter, showing a rise over the same period last year.
BoA posted the largest boost in FX trading-related revenue, up 12% to $190 million, from $170 million on Q2 2004. Christiane Mandell, head of global FX at BoA in New York, said the bank had a large acceleration in electronic trading activity year-on-year, and increased client flows from the Homeland Investment Act in the
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