Euro Launch Contributes To Strong FX Earnings For The Canadian Banks

BANKS

TORONTO--The introduction of the euro has led to a surge of interest in the Canadian dollar market and banks are reaping the benefits, say officials.

Most are reporting healthy earnings in FX for the first fiscal quarter of 1999, which runs from November 1 through to January 31.

Senior traders in Toronto say the market remained active throughout the period despite a winding down of activity towards the end of the calendar year elsewhere.

Buying interest revived during November and December on