Investment Banks Still Going Strong FX Trading Gains Shine In First Half
NON-BANKS
Investment banks are still riding high, with the majority reporting even more impressive gains than those posted in the first half of 1991. Though none of the firms made note of it specifically, sources at some of the largest firms say foreign exchange trading helped bolster returns, particularly in the second quarter.
U.S. commercial banks, which break out foreign exchange trading revenues every quarter, reported that on average, forex operations proved even more profitable than they did last
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