IMF fuelled record trading

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Citigroup and Bank of New York were among the banks to report much-improved Q3 revenues last week, with year-on-year upticks of 16% and 88% respectively.

"A key driver of FX activity in Q3 has been the increasing international political focus upon FX rates, in particular that surrounding the IMF meeting," said Emma Greenwood, head of FX marketing for Citigroup in London. "This has given movement, volatility and trend in both major and emerging market currencies, factors that will always infl