London has tightened its grip on global trading activity, increasing its lead in currency markets and reclaiming its crown in interest-rate derivatives. The statistics will help assuage fears that Brexit is already taking its toll on the City as a global financial centre.

The Bank for International Settlements’ latest survey of currency and derivatives trading underlined the importance of the UK’s role in global finance at a time when the City is braced for a potential no-deal Brexit at the end of next month.