There was more FX trade in London, less in New York in October

Fed and BOE release surveys

• North American average FX volume fell 1.3% to $881.3B per day in October according to the NY Fed
• The BOE reports that daily FX volumes in London were up 3% y/y to $2.179T in October

The surveys also said GBP trading was up and JPY trading was down, which makes sense given the volatility.