FX Market Trends Before, Between and Beyond Triennial Surveys

10 Pages Posted: 28 Apr 2014

See all articles by Morten L. Bech

Morten L. Bech

Bank for International Settlements (BIS) - Committee on Payments and Market Infrastructures

Jhuvesh Sobrun

Bank for International Settlements (BIS)

Date Written: December 2013

Abstract

This special feature looks at trading activity in the foreign exchange market between the Triennial Surveys conducted in 2010 and 2013 and in the months following. We estimate that the $5.3 trillion per day reported for April 2013 was a peak, with activity falling subsequently by $300 billion to $5 trillion per day in October. The decrease in activity was primarily driven by a drop in spot transactions involving mainly euros or yen against the US dollar. The decline in euro trading extends a trend that began in the third quarter of 2011, while the fall in yen trading reflects a partial reversal of a sharp rise that occurred in late 2012 and early 2013.

JEL Classification: C82, F31, G15

Suggested Citation

Bech, Morten L. and Sobrun, Jhuvesh, FX Market Trends Before, Between and Beyond Triennial Surveys (December 2013). BIS Quarterly Review, December 2013, Available at SSRN: https://ssrn.com/abstract=2404447

Morten L. Bech (Contact Author)

Bank for International Settlements (BIS) - Committee on Payments and Market Infrastructures ( email )

Centralbahnplatz 2
Basel, Basel-Stadt 4002
Switzerland
41612808923 (Phone)

Jhuvesh Sobrun

Bank for International Settlements (BIS) ( email )

Centralbahnplatz 2
Basel, 4002
Switzerland

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