BofA Leads US Banks In First Wave Of Interim Forex Earnings Reports

BANKS

NEW YORK--Bank of America (BofA) leads the first wave of US commercial banks, which are showing strong second quarter and interim results on the back of continuing market volatility and high client demand. Most market participants cite activity in the Japanese yen as the key reason for the solid results, but also note the ongoing upheavals across Asia and other emerging markets.

"There has been a lot of volatility this quarter," says one dealer. "That has certainly been good for us, and I'm s