Markets UPDATE: BOE: UK Daily Forex Trading Volumes $1.747 Trillion In April Dow Jones Newswires Print Email Share Comments Recommend (Adds background) LONDON -(Dow Jones)- Currency trading flows in the U.K.–the world’s biggest dealing hub–grew Flows in basic products like spot and forwards rose April was a busy month in the global currency markets, with sharp concerns over European sovereign debt sparking panicky trading conditions at times. Heavy intervention However, global flows were likely tame in comparison to the frantic trading conditions in May and early June, when the euro tumbled alarmingly, Swiss intervention became super-charged, and the U.K. general election sparked big drops in the pound. London grabs roughly one-third of global currency trading flows, with New York taking around one-fifth. Other trading hubs around the world account for the remaining half. Central banks and other monetary authorities in each of the major trading centers compile trading volume statistics on an annual, or semi-annual basis. Earlier Monday, data showed that daily trading volumes in Australia soared Growth in London trading outstrips the shift in volumes reported Its data show that it settled a daily average of around $1.995 trillion in currency trades in April, marking a rise of 6% from October. EBS is thought to handle around three-quarters of global flows, putting the size of the global market at around $2.5 trillion a day. (Enda Curren in Sydney contributed to this article.
|
Click here to view rest of article from original site
|
|
|
