The tri-annual currency survey is out, and some may be surprised by the results. The US dollar remains the dominant trading currency. It is involved with 89.2 percent of turnover, up slightly from 88.4%. Nevertheless, there is an increase in CNY trading to 8.5 percent from 7 percent. This increase is coming at the expense of GBP and EUR trading.
Overall trading volume is higher, despite the talk of deglobalization and reduced global trade, and the trading is more dispersed, with reporting banks representing less than 50 percent of the total trading.
No comments:
Post a Comment