US forex hits sluggish patch
Goldman Sachs said net revenues from fixed income, currency and commodities (FICC) fell 14% in Q3 to $3.77 billion, versus the same time last year, and 14% lower than Q2, 2010. The bank said it experienced lower results in each of FICC's major businesses but highlighted much lower revenues in interest rate and credit products.
Similarly, Citi reported fixed-income revenues, which include foreign exchange, of $3.5 billion, a decrease of 13% from Q3, 2009 and a 6% decrease from Q2, 2010. The bank
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