London Clearing House: Renminbi Set to Surpass Yen in Forex Options Trading
The London Clearing House (LCH) has stated that the renminbi is expected to surpass the yen, becoming the second most active currency in the forex options market against the US dollar. Andrew Batchelor, head of LCH ForexClear, mentioned that by the time the Bank for International Settlements (BIS) releases its next triennial survey on the forex and OTC derivatives markets in 2028, the USD/offshore renminbi currency pair may rise to the second position, following the euro/USD.
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