Canadian Banks Post Strong FX Earnings In Second-Quarter Trading Performance

BANKS

During the second quarter, nearly all of the six major Canadian banks reported increases in foreign exchange earnings. The quarter was marred by uncertainties surrounding the Canadian government's debt burden, but, except for a few periods of volatility, for the most part, the banks came out on top, sources report.

Canada has about C$700 billion in government debt, according to David Marshall, chief economist and managing director for the North American Economist, based in Toronto. He points

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