Forex gap widens between London and New York
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Four trade bodies from the US, UK, Canada and Singapore released FX volume figures last week, with the UK showing the strongest growth and the US showing a decline.
The Foreign Exchange Joint Standing Committee (FXJSC) in the UK reported that average daily FX turnover in October 2006 was $967 billion, up 5.7% from $915 billion in April 2006. In the US, the Foreign Exchange Committee (FXC) said turnover was $534 billion for October, down 7.5% from $577 billion in April.
Richard Mahoney, chairman of
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