London, Great Britain (open 3 a.m. to noon): The United Kingdom (U.K.) dominates the currency markets worldwide, and London is its main component.2
Forex. “Forex Market Hours: When is the Best Time of Day to Trade Forex?” London, a central trading capital of the world, accounts for roughly 43% of global trading, according to a report by BIS.3 The city also has a big impact on currency fluctuations because Britain’s central bank, the Bank of England, which sets interest rates and controls the monetary policy of the GBP, has its headquarters in London.4 Forex trends often originate in London as well, which is a great thing for technical traders to keep in mind. Technical trading involves analysis to identify opportunities using statistical trends, momentum, and price movement.