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Bank of England bankofengland.co.uk

Results of the Semi-Annual FX Turnover Surveys in April 2026

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Statement

Finance Classified by Officially

In April 2026, 25 financial institutions active in the UK foreign exchange (FX) market participated in the semi-annual turnover survey for the Foreign Exchange Joint Standing Committee (FXJSC). The survey results are summarised below. Detailed tables for the April 2026 reporting period, linked below, are available separately.

  • During April 2026, the average daily UK FX turnover reached a record high of $4,609 billion, representing a 20% increase relative to turnover recorded in the October 2025 survey.
  • On a year-on-year basis, UK FX turnover in April 2026 increased by 14%, when compared to the April 2025 survey.
  • Growth relative to the October 2025 survey was seen across all instrument types. FX swaps recorded the largest increase in average daily turnover, rising by $332 billion to $2,172 billion. FX spot increased by 18% to $1,253 billion, and FX options increased by 49% to $309 billion.
  • The top three traded currency pairs: USD/EUR, USD/GBP and USD/JPY remained broadly in line with previous surveys. USD/EUR continued to be the most traded currency pair in the UK, with an average daily turnover of $1,094 billion, making up 24% of overall UK FX turnover in April 2026.
  • Since April 2008, overall average daily UK FX turnover has risen steadily from $1,815 billion to $4,609 billion.
  • The FXJSC was established in November 1973 and is a forum for market participants, infrastructure providers and the relevant UK public authorities to discuss conjunctural and structural issues concerning the wholesale foreign exchange (FX) market in the UK and the associated supporting infrastructure. The FXJSC currently has two sub committees.

    • a. The Operations Sub-Committee was established in 2002. Its members are operations managers from many major banks active in the London wholesale FX market, as well as representatives from service providers, trade associations and from the Financial Conduct Authority (FCA).

    This is an extract. The publication continues at the source.

    Read the original at the source: https://www.bankofengland.co.uk/markets/london-foreign-exchange-joint-standing-committee/results-of-the-semi-annual-fx-turnover-survey-april-2026

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    September 15, 2026 20:57
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