LONDON, March 24 (Reuters) - The meltdown in financial
markets over the coronavirus has sparked a jump in foreign
exchange trading volumes, with average daily turnover so far in
March up 27% on February's numbers as volatility soared, CLS
said on Tuesday.
CLS, a major settler of trades in the foreign exchange
market, said in a statement that high average daily volumes seen
at the end of February had continued into March, with spot
volumes in particular surging.
So far in March, average daily turnover has hit $2.3
trillion, CLS said. That compares with $1.8 trillion in February
and $1.86 trillion in March 2019.
March has seen forex market volatility soaring to multi-year
highs .DBCVIX as investors panicked over the economic impact
of the coronavirus.