July 28, 2009. A survey report released by Bank of England and Federal Bank of New York says that currency trading dropped by 26 & 28 percent respectively due to current financial crises.
Thousands of brokers working in America and Europe & across the world lost their jobs after financial turmoil started ruining the financial markets. Some people started accusing Stock Brokers and economist for the sufferings of people in the on going economic recession for their bad Speculative advice.
After the crises emerged in Merrillynch and Lehman Brother and sacking of leading brokers in USA , Europe and Asia London Spot currency trading was dropped by 28 percent according to Bank of England released statement.
Investors withdrew money from some leading banks and hedge funds managed accounts and are showing distrust with big Institutions. Some of them have already started trading with on-line Forex trading with small accounts without Hiring the services of a broker and are spending much of their time to monitor their positions.
According to some analysts trade in Forex / Currency is improving and it may take some time may be years to reach to its volume of $ 3.2 trillion a day, which used to be before the Financial turmoil occurred.
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