Global FX volumes climb off record highs

But still manage to grow year-on-year in April

The Bank of England
UK retains position as main FX trading hub

Foreign exchange turnover in April slipped from the record highs registered in October 2014, but still grew by 5% in the UK – the world's largest FX trading hub – compared with the same month of last year.

In the UK, turnover for most products fell compared with October, but volumes were still higher, at $2.48 trillion a day on average, with the exception of FX swaps, which declined 14% on the year in April.

FX spot volumes stood at $973 billion a day, showing a 24% increase on the year, despite

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