US FX catching up with UK
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The second semi-annual survey of North American FX volumes by the Federal Reserve Bank of New York found average daily turnover in traditional FX instruments surged by 20% in April. The average daily volume of spot traded in the US grew 16% to $195 billion from $168 billion in October 2004. Meanwhile, the equivalent figures from the Foreign Exchange Joint Standing Committee (JSC) showed average daily turnover in the UK FX market grew by 17%. Spot turnover was up 13% to $233 billion, from $207
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