Yuan shines as UK FX turnover slips

Average daily London trading was lower in October, as were the tallies in New York and Singapore

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Wider view: despite the fall, London's FX turnover in October was the third-largest on record

Foreign exchange turnover in London has fallen, after hitting a record high in the Bank of England’s previous semi-annual survey of the Square Mile.

Trading in the City dropped 4.3% to a daily average of $2.611 trillion in October 2018, according to the latest figures from the BoE’s Foreign Exchange Joint Standing Committee (FXJSC), released on January 29.

Nevertheless, the October total for the world’s largest FX trading centre still came in as the third-largest turnover on record.

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