French Banks Produce Strong FX Gains For Latest Interim Period, Officials Say

BANKS

Although most French banks do not break out interim forex trading revenues from overall trading results, these banks are showing strong first half FX gains compared to a year ago, according to bank officials. Across-the-board volatility, particularly in dollar/Paris, led to increased customer and proprietary flows for the French banks, says Mike Wallace, manager of European FX analysis at Standard & Poor's MMS International in London.

Wallace adds that an increase in trading and underwriting