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Currency Trading to Reach $10 Trillion a Day by 2020, UBS Says

Foreign-exchange trading will more than double to $10 trillion a day on average a decade from now, driven by portfolio diversification from central banks, pension funds, hedge funds and insurance companies, according to UBS AG.

Central banks will have a harder time influencing exchange rates because of the market’s size, wrote Mansoor Mohi-uddin, global head of currency strategy at UBS in Singapore. The Bank for International Settlements said in September that currency market volume rose to $4 trillion a day.