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U.S., U.K. Foreign-Exchange Trading Rise to Records in April

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July 29 (Bloomberg) -- Currency trading volumes in the U.S. and U.K. rose to records in April, according to the Foreign Exchange Committee’s twice-yearly survey.

The average-daily-volume of U.S. currency trading rose 27 percent since October to $1 trillion, the committee said today in a statement. U.K. volume rose 26 percent to $2.55 trillion.

Dollar-yen trading made up 47 percent of the increase in American trading volume, while the pair more than doubled in the U.K., the committee said.

The average daily volume of Japanese currency trading increased 15.8 percent in April, according to a separate statement. The measure rose 6.2 percent in Singapore, 20 percent in Canada and fell 2 percent in Australia.

The Foreign Exchange Committee is composed of individuals from institutions that participate in currency markets worldwide. The group, sponsored by the Federal Reserve Bank of New York, was formed in 1978, the organization said in a statement.

To contact the reporter on this story: John Detrixhe in New York at jdetrixhe1@bloomberg.net

To contact the editor responsible for this story: Dave Liedtka at dliedtka@bloomberg.net

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