US Investment Banks' Q1 Results Benefit From Volatility, Say Analysts

NON-BANKS

NEW YORK--While most US investment banks do not break out FX trading revenues, sources suggest this market sector had a solid first quarter. Analysts and market observers agree that volatility in the Japanese yen and the Asian currencies should have offset a damp start to the year in some of the European currencies.

"I expect most of the investment banks had a pretty good quarter in FX," says Keith Woodfin, a currency analyst at FX Analytics in Essex, Connecticut. "We had some pretty good vol

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