The average daily turnover in the City this year was $1.85 trillion (£1.2 trillion) - or 37pc of global turnover, according to a three-year report into currency dealing by the Bank of International Settlements.
Around $4 trillion changed hands around the world every day in April, up from $3.3 trillion in April 2007.
New York, the second most important currency centre, does about half the amount of trading taking place in London.
The dollar continued to be the most traded currency in the UK market, involved in 85pc of all trades, while the euro and the Japanese yen gained relative to April 2007.
Among the 10 most actively traded currencies, the Australian and Canadian dollars both increased market share, while the proportion of turnover involving sterling fell from 22pc to 18pc. The Swiss franc also lost ground.
--http://www.telegraph.co.uk/finance/currency/7975193/Financial-crisis-boosts-Londons-dominance-in-global-currency-trading.html
My comments: London seems almost like an American city. To the extent that the dollar is dominant, a large portion of this is due to London.
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