Brexit Turmoil Ignites Trading Boom in World's Biggest FX Hubs

FX turnover rises to $2.73 trillion a day in U.K. in April
North America volumes also jump, approaching $1 trillion a day

Pound volatility is "far too low" considering Brexit’s risks, JPMorgan’s Meenal Patel told Bloomberg on July 23.(Source: Bloomberg)

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By Lananh Nguyen and Charlotte Ryan

July 24, 2018 at 4:50 PM UTC

Updated on

July 25, 2018 at 8:11 AM UTC

This article is for subscribers only.

Brexit turmoil is fueling a surge in currency trading in the world’s biggest foreign-exchange centers.

Turnover in the U.K. rose to a record $2.73 trillion a day in April, according to data from the Bank of England’s Foreign-Exchange Joint Standing Committee. That’s up 14 percent from a year earlier, and exceeds the previous record from October 2014.