LONDON - Britain has extended its lead in the global currency trading business in the two years since it voted to leave the European Union, in another sign London is likely to continue to be one of the world's top two financial centers even after Brexit.
Reuters' analysis, based on surveys released by central banks in the five biggest trading centers, shows forex trading volumes in Britain had grown by 23 percent to a record daily average of $2.7 trillion in April compared to April 2016.
"The luck of geography has helped because most of the big market moving news, whether in the U.S. or Europe, has occurred during London's trading hours," said Neil Jones, London-based head of hedge fund sales at Japan's Mizuho Bank.
These products, the largest part of Britain's currency market, are sold to customers around the world, not just the EU. Banks in Britain, including the London operations of global players, are moving some staff to European cities on expectations that they will the lose the automatic right to sell services to EU investors after Brexit.
The city's tightening grip on forex trade does not prove London won't suffer from Brexit, but it does underscore the attractiveness for banks of maintaining large international operations in the city, industry experts said.
"The FX market is effectively an offshore dollar market and offshore dollars are always going to be looking for an international home, and that's London."
EUR/JPY Comment: Pulling back a little further and faster than we had expected but still well within normal retracement parameters. Expect slow basing activity this morning around 157.40, maybe all day. Strategy: Attempt longs at 157.40/157.00; stop below 156.00. Cover ahead of 159.00 but be ready to re-buy on a sustained break above 159.00 for 160.00 and then 164.00. Mizuho Economic Outlook & Analysis provides Outlooks on the Japanese economy every quarter and in-depth analyses on economic issues on a timely basis. Latest Reports. Back Number. Oct 20, 2020 "Corona special demand" offset by import hike -High dependence on China supply chains reconfirmed- (September 3, 2020)(PDF/336KB) Oct 7, 2020 The "corona shock" and the Japanese economy -Substantial ... EUR/USD needs to keep break of 1.15 to shift to higher range - Mizuho. Technical Analysis Wed 22 Jul 2020 06:58:21 GMT. Author: Justin Low eurusd. share. EUR/USD is trading at its highest levels ... Forex Crunch has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: Omissions and errors may occur. Any news, analysis, opinion, price quote or any other information contained on Forex Crunch and permitted re-published content should be taken as general market commentary. This is by no means ... At Walletinvestor.com we predict future values with technical analysis for wide selection of stocks like Mizuho Financial Group, Inc. (MZHOF). If you are looking for stocks with good return, Mizuho Financial Group, Inc. can be a profitable investment option. Mizuho Financial Group, Inc. quote is equal to 12.380 USD at 2020-11-08. Based on our forecasts, a long-term increase is expected, the ... Mizuho argues that there is a risk for EUR/USD long positions to be unwound should the pair hit the 1.20 level The high today for the pair hit 1.1997 and there is just a general expectation that ... Created Date: ißý:5J I Åß £$°_w : OÐ´1ükBDÙ×ø¸ï), õ R üÜÁ~íF Technical analysis gauges display real-time ratings for the selected timeframes. The summary for MIZUHO FINANCIAL GROUP is based on the most popular technical indicators — Moving Averages, Oscillators and Pivots. Results are available at a quick glance. Risk Disclaimer: DailyForex will not be held liable for any loss or damage resulting from reliance on the information contained within this website including market news, analysis, trading signals and Forex broker reviews. The data contained in this website is not necessarily real-time nor accurate, and analyses are the opinions of the author and do not represent the recommendations of ... Mizuho Bank, Ltd. is a financial institution registered with the Director of Kanto Local Finance Bureau (Tokin) No.6, and a member of Japan Securities Dealers Association, The Financial Futures Association of Japan and Type II Financial Instruments Firms Association. Worldwide Japan Asia Pacific Americas Europe, Middle East and Africa Group Companies Mizuho Financial Group Mizuho Bank Mizuho ...
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