Yen volatility drives record turnover, central bank surveys reveal
The US and the UK saw record turnover in foreign exchange in April, as a spike in yen volatility led to a major pick-up in investor activity, according to figures published yesterday by the FX committees of the Bank of England and the Federal Reserve Bank of New York.
In the US, average daily turnover shot up from $794 billion in October 2012 to $1.007 trillion in April 2013, according to the New York Fed FX Committee's semi-annual survey. In the UK, the Bank of England's Foreign Exchange Joint
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