Heading into the second half of the year, foreign-exchange market participants might feel somewhat fatigued from the exertions of the first six months, during which volatility jumped to multiyear highs before settling down near more normal levels.
But while elevated levels of activity are understandably exhausting, they also tend to be highly profitable to those that manage to navigate it skilfully. For many, this is certainly the case, based on the latest reports of corporate earnings, which show FX and fixed income providing a chunky boost to revenues and profits at large investment banks.
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