FX trading in London hits record high

UK capital cements position as largest FX hub; New York sees significant fall in daily turnover

London financial district
Hot in the City: London is booking 12% more FX trades daily than a year ago

Foreign exchange trading volumes in London achieved a new record in April, rising 12% since October 2018 to book an average of $2.858 trillion worth of trades a day and solidifying the City’s position as the world’s largest currency hub.

The latest semi-annual survey from the Bank of England (BoE) shows the figures represent a 7% increase from April 2018, when the average reported volume surpassed the previous record of $2.667 trillion.

The turnover by instruments was mixed: FX swaps made

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