US Banks Q1 Earnings Show Downward Trend from FX

- By FX Markets Staff
- @FXMarkets_
- 26 Apr 1999

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NEW YORK--US commercial banks are reporting a generally downward trend in first quarter FX earnings. Among those that have released results so far, Chase Manhattan Bank has posted the highest Q1 profits from FX; although their results are down 30 per cent year-on-year.

Industry officials say the downward trend reflects lower market volatility and increased customer caution surrounding the launch of the euro.

However, US dollar/Japanese yen volatility and the devaluation of the Brazilian real in

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