U.S. Banks Expect Poorer Q4 FX Gains Compared To 1993

BANKS

The outlook for 1994 fourth-quarter foreign exchange trading revenues at the major U.S. banks is poor compared to the same period of 1993, according to trading managers and analysts contacted by FX Week. Full-year results will also be down from their year-ago levels, these sources say.

The usual hesitancy on the part of institutional clients and bank traders to establish positions at year-end was likely exacerbated somewhat due to the relatively poor trading results posted through the year's