Average daily global foreign-exchange turnover has grown to $4.71 trillion according to a Dow Jones Newswires analysis, underscoring how currencies continue attracting liquidity and growing as an asset class despite the uncertain state of the economy.
The Dow Jones estimate, which is higher than the $3.98 trillion daily foreign-exchange number published in the Bank for International Settlements' 2010 report, takes into account official information compiled from Australia, Japan, Singapore, North America and the U.K.--all of which released updated figures Monday.
The Dow Jones numbers also include estimates for trading data from the rest of the world, based on previous BIS annual data. Taken together, the data illustrate how currency flows expanded across the globe over the last year.
That’s according to the Wall Street Journal.
The news didn’t specify the breakdown or the contribution share of the currencies traded.
Nonetheless to me these are:
-Signs of the deepening and growing sophistication of financial markets (growth led by high frequency and retail traders)
-Evidences of growing interconnectedness of financial markets or technology enabled financial globalization
-Symptoms the profusion of liquidity from inflationism (bailouts, QEs and circulation credit)
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