"Better market" boosts UK banks' FX

NEWS

LONDON -- Improved market conditions in 2001 boosted UK banks' FX trading revenues, according to annual results announced by Standard Chartered, Barclays Bank and Lloyds TSB last week.

"A flat yield curve in the US dollar created a tough environment in 2000," Mike Rees, global head of global markets at Standard Chartered in Singapore, told FX Week. "But in 2001, we saw both volatility and steepness to the yield curve, which led to increased customer hedging and risk management activity."

Stand

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