The latest survey carried out by the Bank of England’s (BoE) foreign exchange joint standing committee appears to confirm the view that trading in sterling does badly in conditions of widespread stress.
Data gathered from 27 financial institutions in the UK for the April 2020 survey shows that while there was a decline in average daily turnover for all the major currency pairs compared with the findings of the previous survey in October 2019, sterling trading fell particularly sharply, with USD/GBP and EUR/GBP down by 32% and 31% respectively.
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