Latest turnover figures tell positive story for FX, say committee members

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The continued rise in foreign exchange turnover in the UK and US between April and October 2011, as reported by the main foreign exchange committees last week, is a positive sign that markets are emerging from the downturn, despite the short-term impact of the eurozone crisis, committee members have told FX Week. On February 6, the Bank of England's Foreign Exchange Joint Standing Committee (JSC) reported that average daily foreign exchange turnover in the UK in October 2011 was $1,972 billio