Singapore clings on to third place in FX trading race, survey finds

Singapore

THE recent carry trade activities linked to the Hong Kong dollar - an arbitrage via the selling of a lower-yielding currency for a higher-yielding one - has led in part to Singapore being trailed ever so closely by Hong Kong in the global foreign exchange (forex or FX) trading race.

The Republic held on to third place by a mere US$1 billion margin, a triennial global survey showed.