Dollar hits European banks
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Fixed income, rates and currencies revenues at UBS were down 14% from the Sfr2.6 billion record achieved a year earlier in 2004, reflecting the weakening of the US dollar against the Swiss franc and a mixed impact on the current market conditions, said the bank.
The bank posted a 10% slide in net income from foreign exchange trading to Sfr372 million in the first quarter of this year, from Sfr414 million from forex trading for the same period in 2004. But the bank was up from the last quarter of
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