Would Brexit put London’s FX powerhouse status at risk?

Posted by
Tim Focas
Director of Financial Services – Tim Focas

Colloquium director of financial services Tim Focas has appeared in Fund Strategy Magazine

As David Cameron continues his lobbying mission to win over European leaders to his “renegotiation” plans, investors are understandably weighing up the pros and cons of Britain’s place inside and outside the EU. The good news for Cameron is that the in campaign appears to be gathering momentum – thanks in large part to high-profile cash injections from the likes of Goldman Sachs and JP Morgan.

With London firmly placed as a leading FX centre, investors could be forgiven for thinking that this is reason alone to go with the in-crowd. After all, London’s FX traders currently buy and sell more than twice as many euros than the entire eurozone and more dollars than the US. Why would investors want to put London’s leading position in euro trading under threat?

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