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Banks benefit from currency swings

Posted on 14 August 2013

Big swings in exchange rates over recent months have caused headaches for currencies-focused funds, but the banks that make the market tick have enjoyed a bumper quarter. Currencies trading volumes rose as the yen tanked in the first half of this year, and as the dollar later surged after the U.S. Federal Reserve signaled a shift in its monetary policy stance.
Revenues at major banks’ foreign exchange divisions rose by an average 15% during the second quarter compared with the same period last year, outstripping earnings from other businesses, according to research firm Coalition………………………………………..Full Article: Source


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