US interim results: JP Morgan Chase FX revenues down 31%

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NEW YORK -- Interim FX earnings from US banks for the first half of 2001 show that bigger is not always best. JP Morgan Chase's combined FX trading-related revenues -- published for the first time since the December 31 merger -- are nearly a third lower than the figures for the separate banks in first-half 2000. At the same time, most of the other US banks have seen upswings in their FX trading revenues over the same period.

Rob Standing, head of European Rates at JP Morgan Chase told FX Week