Deutsche Maintains FX Pace Despite Impact Of Euro

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FRANKFURT--Deutsche Bank confounded market analysts last week, reporting a moderate increase in FX trading revenues in the first half of 1999, in spite of lower market volatility compared to 1998, and the loss of trading in the eleven euro 'legacy' currencies.

The bank reports stable revenues from proprietary trading in foreign exchange, precious metals and foreign notes/coins at the interim stage. To June 30, earnings were €342 million, ($354 million), a six per cent rise on last year's figu

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