Banks may profit from uncertain currency market

The big currency swings of the past three months have whipsawed many investors. Wall Street may end up loving the action.

MarketWatch reports that as U.S. banks closed out the first quarter, analysts and investors said the turbulence in foreign-exchange markets triggered by central-bank actions should have boosted profits in the trading units of the country's biggest financial firms. The key will be by just how much and which firm benefited the most.

Volatility in the currency markets, which tends to drive sales and trading activity, rose 18% between the start of the year and mid-March, setting the stage for a rebound at banks that deal heavily in those products, according to analysts at Deutsche Bank.

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Banks are poised to profit from forex tumult

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