Results of the Semi-Annual FX Turnover Surveys in April 2026
In April 2026, 25 financial institutions active in the UK foreign exchange (FX) market participated in the semi-annual turnover survey for the Foreign Exchange Joint Standing Committee (FXJSC). The survey results are summarised below. Detailed tables for the April 2026 reporting period, linked below, are available separately.
The main findings of the survey are:
- During April 2026, the average daily UK FX turnover reached a record high of $4,609 billion, representing a 20% increase relative to turnover recorded in the October 2025 survey.
- On a year-on-year basis, UK FX turnover in April 2026 increased by 14%, when compared to the April 2025 survey.
- Growth relative to the October 2025 survey was seen across all instrument types. FX swaps recorded the largest increase in average daily turnover, rising by $332 billion to $2,172 billion. FX spot increased by 18% to $1,253 billion, and FX options increased by 49% to $309 billion.
- The top three traded currency pairs: USD/EUR, USD/GBP and USD/JPY remained broadly in line with previous surveys. USD/EUR continued to be the most traded currency pair in the UK, with an average daily turnover of $1,094 billion, making up 24% of overall UK FX turnover in April 2026.
- Since April 2008, overall average daily UK FX turnover has risen steadily from $1,815 billion to $4,609 billion.
