U.S. Banks Expected To Post Skimpier FX Gains In First Quarter As Market Activity Subsides

BANKS

Foreign exchange trading gains aren't expected to outpace those posted during the same period a year ago, foreign exchange officials surveyed say. They attribute the slide to more subdued price movements and less liquid markets in the period, particularly in the last two months.

Trading gains will likely prove particularly pale compared with those reported for the first quarter of 1991 when the Gulf war sparked sharp currency swings. Foreign exchange trading gains during the period averaged

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