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LCH: The Chinese yuan will surpass the Japanese yen in foreign exchange options trading activity
Golden Finance reports that the London Clearing House (LCH) states that the renminbi is expected to surpass the Japanese yen and become the second most active currency in the foreign exchange options market against the US dollar. The head of LCH ForexClear, Andrew Batchelor, said that when the Bank for International Settlements (BIS) releases its triennial survey of the foreign exchange and OTC derivatives markets in 2028, the USD/offshore RMB currency pair may rise to second place, just behind EUR/USD.