Foreign exchange trading volumes are showing no signs of letting up, according to the latest FX surveys conducted by the Federal Reserve and the Bank of England. The results also indicated that US trading volumes are strongly outpacing those in the UK.
The Bank of England’s foreign exchange joint standing committee reported that UK daily average spot volumes reached $233 billion in April, 12.6% up on the $207 billion reported in October 2004. In comparison, the Fed’s foreign exchange committee in the US noted that daily average spot volumes hit $195 billion in April, up 16% on the $168 billion last October.
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