UBS and SBC report combined net income for the first quarter of the year of CHF1.3 billion ($871 million). The group did not post comparable results for previous quarters, but officials say the figure was slightly up on average quarterly earnings in 1997. The banks did not provide a breakdown for forex revenues.

The Bank of Japan reports average daily dollar/yen turnover volume for the week ended April 17 was $18.68 billion, up from the $15.49 billion reported the previous week ended April

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