New York Bonus Round Disappoints FX Market

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NEW YORK--Foreign exchange staff in New York have been receiving their bonuses over the last few weeks, with most houses paying out at lower rates than last year despite strong revenues.

"1998 was a controversial year in the market for foreign exchange staff," says one senior FX trader.

"There was a lot of money made, but many traders aren't seeing very much of it. There is a lot of dissatisfaction on the Street as a result, although not everyone has done badly," adds the trader.

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