The Bank of England today released their latest semi-annual FX turnover survey results for Apr 2015.
Highlights on London FX volumes for Apr 2015
- Total FX vol of $2,481bn/day, fell -8% compared to the record level seen in Oct 2014, but still showed a +5% YoY gain
- Spot FX vol fell -13% to $973bln/day compared to Oct 2014, although still up some +24% YonY
- USD/CNY activity increased by 25% in April 2015 to $43bln/day, a new record high, and is now the 9th largest FX pair.
- USD/JPY vol fell -25%, returning back to October 2013 levels.
- MDP vol fell –16% compared to Oct 2014 at $406bn/day (+12% YonY)
- SDP vol fell -12% from Oct 2014 at $276bln/day (still down -11% YonY)
- Ratio of SDP/MDP vols rose slightly (in favor of SDPs) to 68%, compared to the low of 65% seen in Oct 2014