Japanese banks seen dominant in trading of world's currencies

A Reuter survey of foreign exchange traders, central bankers and government officials in the world's major currency trading centres showed that many believe Tokyo has overtaken New York in volume of business. With the focus of trading shifting toward the U.S. dollar/yen, it is Tokyo that often dictates the market's direction. A survey in March, 1986, by the Japanese, British and U.S. central banks showed London with $90 billion (U.S.) of trading each day, New York with $58.5 billion and Tokyo with $48 billion.

Full text: Toronto Star, Aug 11, 1987

forex trading system