Bank Of Montreal Pulls Out Of London Forex Market

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LONDON--Bank of Montreal has withdrawn from the London spot FX market, with a swathe of staff cuts across both sales and trading.

A spokesperson for the bank in Toronto confirms that the bank is cutting all spot FX trading and sales activity in the centre, along with several other trading businesses, to consolidate dealing on a 24-hour basis in North America.

The move will involve a total of around 30 staff losses in the City, 15-17 of which will be in FX and capital markets and 10-15 of which

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