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London has continued its dominance in foreign exchange markets according to the latest half-annual survey data published by the Bank of England’s Foreign Exchange Joint Standing Committee.
As of April 2016, the 30 financial institutions which are actively participating in the survey have reported that the average daily volumes (ADV) of foreign exchange traded in the UK totaled $2.213 trillion. The figure was higher by 5 per cent when compared to October 2015, and by 9 per cent lower when stacked next to last year’s report.
Spot FX trading increased by 4 per cent when compared to October, but was lower by ... (read more)