UK banks plan for euro

FRONT PAGE NEWS

LONDON -- UK banks are looking to trade more derivatives and emerging market currencies, with more European clients, ahead of potential UK entry into the eurozone.

These banks are set to lose an estimated 15% of their forex businesses through the loss of sterling trading, and are closely examining ways of diversifying business lines as the prospect of the UK joining the euro becomes more likely.

Kevin Moore, managing director and head of foreign exchange trading at Barclays Capital in London

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