Activity in Global Foreign Exchange Markets

According to a recent BIS survey, turnover in foreign exchange markets continued to increase between April 2007 and April 2010. Growth was slower than in earlier years, consistent with a slowdown in the underlying demand for foreign exchange owing to the impact of the global financial crisis on international trade and investment. In an exception to this trend, spot turnover increased significantly, driven in part by the ongoing expansion of high-frequency trading.Foreign Exchange Market Turnover; High-frequency Trading; BIS Triennial Survey