FX Markets



The first US banks have begun releasing third quarter earnings. JP Morgan reports a 68 per cent increase in FX revenues to $99 million versus $59 million a year ago (see story, this issue). Meanwhile, NationsBank does not break out FX revenues, but does report a 26 per cent increase in net income to $788 million from $625 million for the same period a year ago. First Chicago also does not breakout FX trading revenues separately, but reports combined trading profits of $32 million for the period

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