Investment banks cut FX

A spokesperson at Lehman Brothers in London told FX Week the bank made 500 job cuts across the board in November. "We have made small adjustments across all divisions and regions to reflect the challenging environment," the spokesperson said. That includes an unspecified number from the fixed-income division, which houses FX, she told FX Week. She added that the majority of those cuts were from the bank’s offices in New York.

However she declined to comment on a report from one source close to

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