Currency trading hits record high

A report by the Bank for International Settlements has highlighted the massive growth in the worldwide currency markets with London pretty much outpacing the rest of the world. The vast majority of currency transactions are carried out in the London market where growth has been around 25% over the last three years against an average of 20% across-the-board.

The report shows that over $4 trillion change hands in currency trades each and every day around the world which to put this in perspective is the same as trading the entire output of the global economy every two weeks. This enormous growth in currency trading has obviously been assisted by the massive volatility we have seen since the credit crunch hit home three years ago and the resulting worldwide economic fluctuations.

Yet again London seems to be leading the world with regards to investment and trading with currency exchange transactions now more likely to be carried out through London than anywhere else in the world. Despite the attempts of many institutions and governments around the world to unsettle the London investment markets, and indeed take away business for themselves, the capital of the UK still leads the way in many areas.