Just crossing the wires are the results of the Bank of England’s semi-annual survey of forex volumes. Volume fell 20% from the earlier six month period, the report found.Turnover was seen at $1.356 trln per day that month.
My guess is the volumes were so astronomical in October 2008 that a drop was inivitable. October was in the midst of the global credit freeze which followed the Lehman and AIG collapses when the dollar was in sharp demand on a rush of global deleveraging. We will likely not see volumes like those seen in October for some time to come.
