FX now a $5.3 trillion per day market, says BIS
The latest BIS triennial survey shows the UK has strengthened its grip on the FX market, while USD/JPY has seen a strong increase in trading activity
Average daily turnover in the global foreign exchange market has reached $5.3 trillion, up from $4 trillion in 2010, according to the latest triennial survey from the Bank for International Settlements (BIS), with the UK continuing to comprise the largest slice of the business.
Net average daily turnover in the UK forex market – compiled by the Bank of England – was $2.73 trillion in April 2013
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