Brexit Turmoil Ignites Trading Boom in World’s Biggest FX Hubs

Brexit turmoil is fueling a surge in currency trading in the world’s biggest FX centers.

Turnover in the U.K. rose to a record $2.73 trillion a day in April, according to data from the Bank of England’s Foreign-Exchange Joint Standing Committee. That’s up 14 percent from a year earlier, and exceeds the previous record from October 2014.

In North America, market activity rose to $994 billion, 12 percent higher than a year earlier, a report from the Federal Reserve Bank of New York showed. In both regions, the British pound-U.S. dollar currency pair accounted for the biggest jump in volumes. ...