US volumes dive after Sandy hits FX survey data

US flag with downward arrow

Average daily foreign exchange turnover in the US fell by 7.7% in October 2012 as the effects of Hurricane Sandy took their toll on the semi-annual survey conducted by the Federal Reserve Bank of New York's FX Committee, which recorded a drop in average daily turnover from $860 billion in April 2012 to $794 billion in October 2012.

Spot trading saw the sharpest decline, with average daily turnover falling 33% year-on-year to $380 billion, which equates to 48% of overall turnover – the lowest

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