US Full Year Results Look Positive

RESULTS

NEW YORK--The bigger FX players have seen only small downturns in trading revenues for the first year after the introduction of the euro, according to US banks’ annual results released last week.

Citi reports a drop in forex trading revenues of 8 per cent, to $1,478 million, from $1,613 million last year --despite the addition of the Salomon Smith Barney’s business following the merger in January 1999.

"The impact of Y2K, the introduction of the euro and the sharply reduced emerging market cur

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