Yuan to Surpass Yen in Currency Options Trading, LCH Says

The yuan is on track to overtake the yen as the second-most traded currency against the dollar in the foreign-exchange options market, according to London-based clearing house LCH.

The dollar-offshore yuan pair is likely to move to second place behind just the euro-dollar when the Bank for International Settlements releases its next triennial survey of foreign exchange and over-the-counter derivatives markets in 2028, said Andrew Batchelor, head of the clearing house’s unit LCH ForexClear.