As the oldest international financial center in the world, London's foreign exchange market is the earliest in the world. Long before the First World War, the foreign exchange market in London had begun to take shape. 1979 10 in June, Britain completely abolished foreign exchange control, and the foreign exchange market in London developed rapidly. There are about 600 banks in the City of London, and almost all major international banks have branches here, which greatly enlivens the trading in the London market. Due to its unique geographical location, London is located at the intersection of two major time zones, connecting the Asian and North American markets. When Asia closed, London just opened. When it closed, new york was the beginning of a working day, so trading was very active during this period. London has become the world's largest foreign exchange trading center, which has an important impact on the trend of the entire foreign exchange market.