London Gains First-Mover Advantage in EU’s Yuan Race

London Gains First-Mover Advantage in EU’s Yuan Race

Simon Dawson/Bloomberg

A pedestrian walks the steps of The Royal Exchange, right, near the Bank of England (BOE), center, in London. Britain accounts for about 46 percent of global currency trading, according to a Bank for International Settlements study in 2010, dwarfing the U.S. at 24 percent, France at 7 percent and Singapore at 3 percent.