Banks at odds over FX flows outlook
HSBC and Barclays Capital released interim management statements for the quarter this week, reporting "strong revenue growth" and "very strong income growth" respectively in currency products.
While HSBC said the growth was attributable to both successful trading of the market and new business, it noted higher volumes during the quarter were a result of institutions repositioning to reduce risk positions.
"As a consequence, it is possible that dealing volumes will be lower in subsequent quarters
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