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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
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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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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.