Optimism Mounts That NatWest FX Traders Will Survive Merger

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LONDON--Speculation is mounting that the job cuts in the foreign exchange operations of NatWest, following its merger with Royal Bank of Scotland, will be much smaller than traders had feared.

Although RBS and NatWest GFM refuse to discuss the issue, insiders are saying that the strength of the NatWest trading operation should mean that it will survive the merger more or less unscathed.

"There are bound to be redundancies," says one London analyst. "But the high quality of so many of the NatWe