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FX trading volumes rise slightly to $1.6 trln in December - CLS

Published 01/20/2020, 08:11 PM
Updated 01/20/2020, 08:16 PM
FX trading volumes rise slightly to $1.6 trln in December - CLS

LONDON, Jan 20 (Reuters) - Average daily foreign exchange
trading volumes rose 2.7% year-on-year in December, CLS said on
Monday, with growth in swap volumes more than compensating for a
drop in spot trading caused by a further suppression in currency
market volatility.
CLS, a major settler of trades in the foreign exchange
market, said in a statement that December's volumes rose to $1.6
trillion, up from $1.56 trillion recorded in December 2018.
"The pattern in the last month mirrored that seen throughout
much of 2019: significant growth in FX swap activity, (9%
compared to December 2018), partly offset by a decline in the
spot market," said CLS's Head of Quantitative Research, Rob
Franolic.
Very low volatility - or price swings - has been a feature
in FX markets for the past few years, discouraging outright
speculative trading in currency markets.
More central bank stimulus and a part-resolution in the
U.S.-China trade war boosted investor sentiment at the end of
2019 but failed to move FX markets much.

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