Global currency trading nears $10 trillion daily
Global currency trading volumes reached a record $9.6 trillion per day in April, as Donald Trump's "Liberation Day" U.S. trade tariff blitz sparked widespread market volatility, according to the world's most comprehensive FX market survey released on Tuesday.
The Bank for International Settlements survey, conducted every three years, also showed that the U.S. dollar remains by far the most traded currency, and that London has consolidated its position as the world's leading FX hub, even though sterling's share of the market has taken a tumble, News.Az reports citing Reuters.
The headline $9.6 trillion average daily trading for April was a 28% increase from the last time the survey was done in April 2022 - another volatile period as Russia had just launched its full-scale invasion of Ukraine.
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