October saw FX turnover reach new heights

Survey results from central banks show uptick in volume

US dollar plane

Daily foreign exchange turnover has surged around the globe and to record highs in the UK of $2.667 trillion, according to data compiled in October 2014 by the London FX Joint Standing Committee (FX JSC) of the Bank of England, as rising volatility in currency markets led to soaring volume.

In October, the FX spot market reached $1.1 trillion per day, showing an increase of 40% since April, while year-on-year volume was up 44%. EUR/USD rose by 18% over the six months to hit a new survey high of

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