February 4, 2020 / 2:30 PM / 23 days ago

London FX volumes reach record high as sterling turnover surges - BoE

LONDON, Feb 4 (Reuters) - Average daily foreign exchange trading volumes in Britain rose to a record high in October 2019, up 11% on a year earlier, the Bank of England said on Tuesday, helped by a big rise in sterling trading amid relentless Brexit negotiations.

The $2.88 trillion traded each day on average in Britain in October 2019 was up 2% from April, the BoE said in its semi-annual survey of London’s foreign exchange industry, the world’s biggest.

The central bank said that rising volumes of FX swaps offset declines in currency spot and options trading. (Reporting by Tommy Reggiori Wilkes; Editing by Olga Cotaga)

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