BIS: Global Forex Trading Volume Soared to $9.6 Trillion in April
Jinse Finance reported that according to data from the Bank for International Settlements (BIS), global foreign exchange market trading volume has surged to a record high due to sharp exchange rate fluctuations triggered by US trade tariffs. Preliminary survey results show that in April, the average daily turnover of over-the-counter (OTC) transactions reached $9.6 trillion, an increase of 28% compared to the same period in 2022. Meanwhile, the average daily trading volume of OTC interest rate derivatives soared by 59% to $7.9 trillion. This one-month market snapshot coincides with the most turbulent period of foreign exchange trading so far this year. The "Liberation Day" tariffs announced by Trump on April 2 caused global assets to fluctuate, and the US dollar weakened due to its diminished safe-haven status. A JPMorgan currency volatility index rose to its highest level in two years that month.
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