Banks Seen Cutting Costs, Retrenching Further Side Effects Of Gulf Crisis Add To Pressure?
BANKS
Although analysts say the impact of the military confrontation in the Middle East on foreign exchange turnover may be minor, some worry that a number of side effects may exacerbate the cost-cutting and retrenchment of some foreign exchange operations, which has been under way among British and U.S. banks for some time.
Analysts say concerns about the military buildup in the Middle East and the potential disruption of oil supplies may keep investment flows at home, and compound worries about the
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