Bank of America's (BAC) over-dependence on trading income as a source of fee revenues is concerning.
Sterling had initially jumped against the US greenback in early trade, hitting its highest level in three weeks, however, it soon gave up those gains.
Major Wall Street bank stocks rose along with the broader market today after a lot of selling in recent weeks and as investors look for the Federal Reserve to potentially pivot on monetary policy. Shares of Bank of America (NYSE: BAC) traded nearly 3.7% higher in the final hour of trading today. Shares of Citigroup (NYSE: C), traded nearly 4% higher, and shares of JPMorgan Chase (NYSE: JPM) were up more than 4%.