Dollar move boosts State Street’s revenues

The US dollar decline was the key theme of the year, said Mark Snyder, global head of FX and money markets at State Street in Boston. "Also, a lot of extra risk capital was deployed in the currency markets last year by fund managers and banks." This made for active markets, which are good for trading, he said.

FX trading revenues within State Street’s global markets group rose 30% to $391 million for 2003, compared with $300 million the previous year.

The bank, which focuses exclusively on

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