The BoE survey results are mirrored in a similar survey released at the same time by the Federal Reserve Bank of New York. It said that overall trading volumes in the US had fallen by 31 per cent in the six months to April to total $US527 billion ($639bn).
"Declines in average daily volume were broad based and were reported across all currency pairs, instrument types, counterparty types, and execution methods," the New York Fed's Foreign Exchange Committee said.
The decline takes volumes back to the lowest level since October 2005, the committee added.
Britain and the US jointly account for around a half of global currency trading flows.
Meanwhile, average daily foreign exchange turnover in the Tokyo market decreased 16 per cent to $US254.2bn in April compared with a year earlier, the Tokyo Foreign Exchange Market Committee
"Declines in average daily volume were broad based and were reported across all currency pairs, instrument types, counterparty types, and execution methods," the New York Fed's Foreign Exchange Committee said.
The decline takes volumes back to the lowest level since October 2005, the committee added.
Britain and the US jointly account for around a half of global currency trading flows.
Meanwhile, average daily foreign exchange turnover in the Tokyo market decreased 16 per cent to $US254.2bn in April compared with a year earlier, the Tokyo Foreign Exchange Market Committee
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