Diverging monetary policies are creating ideal conditions forbanks to make money from trading currencies, as Credit Suisse GroupAG to Goldman Sachs Group Inc. say rising volatility is boostingearnings.
“If there's higher volatility, there's higher volume and higheropportunities for us to generate revenue,” Bernie Sinniah, theLondon-based global head of corporate foreign-exchange sales atCitigroup Inc., the second-biggest currency trader, said in a phoneinterview.
Volumes in the biggest financial market jumped to a record $5.7trillion a day in June, according to the latest data from CLS Bank,which operates the world's largest foreign-exchange settlementsystem. Deutsche Bank AG and Barclays Plc, which had the highestrevenue from currency trading in 2012, published results today,while HSBC Holdings Plc reports in the next week.
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