Overview

• The survey shows a 28% jump in global FX turnover from April 2022 to April 2025.
• The U.S. dollar remains the most traded currency, with asset managers selling dollar forwards to limit losses as the currency depreciated.
• China's yuan increased its market share to 8.5%, the euro slipped to just under 29%, and sterling fell to 10.2%.
• London strengthened its lead as the top FX hub, with sales desks in Britain, the United States, Singapore and Hong Kong accounting for 75% of trading.
• Over-the-counter interest-rate derivatives trading climbed to $7.9 trillion, with euro contracts nearly doubling to about $3 trillion and yen-linked activity rising sharply.