Global currency trading volumes surge to highest-ever level

Trading in the foreign exchange market has hit $6.6 trillion per day, according to the latest survey from the Bank of International Settlements.


The BIS today reported today that volume in the survey month of April rose 29% compared to 2016. The comprehensive survey is conducted every three years.


Aside from the jump, what stands out was the rise in swaps trading -- which is now nearly half the market.


Other key details:


88% of all trades include USD

London accounts for 43% of all activity

US trading is 17% EM currencies are now 25% of turnover

Trading involving the euro hit 32%

Trading involving the yen at 17%

Yuan trading is 4%

Spot FX trading rose 20% to $2 trillion



The changes in volumes of the major currencies was muted compared to 2016 aside from a small drop in the yen but that may have been due to lower volatility in the survey month.




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