Latest figures show that while daily forex volumes have not yet recovered to the levels traded prior to the global credit crisis, investors are once again embracing the forex trade. London continues to lead other financial centers, with average volumes for the beginning of the year to April, averaging $1.747 trillion daily. This is a gain of 31 percent over the same time last year, and when compared to October 2009, represents a gain of 15 percent.
The Tokyo Foreign Exchange Committee noted that the countryÃ¢â‚¬â„¢s 20 largest banks have combined for a 15.8 percent increase in forex trading during the first quarter of the year. Daily volumes increase to $294.1 billion a day in April, with the USD / JPY currency pair accounting for more than 60 percent of the daily totals.
The US market also made progress towards recovery. Hit hard as hedge funds and large banks curtailed trading during the global credit crisis, the New York Federal Reserve Bank revealed that average US daily volume reached $754 billion in April. This is an increase of 11.8 percent compared to October 2009, and a full 43 percent increase from April 2009.
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