We are continuing to see a decline in March FX volumes from Japanese brokers take place. Following on results from GMO Click, DMM Securities has reported overall volumes of $530.24 billion for the month. The figures for the world’s second largest retail forex broker by volume were 18.5% below February’s $651 billion figure. Effecting Japanese volumes during the month was a return of subdued trading in the Yen. Nonetheless, as seen by yesterday’s spike lower in the currency following further stimulus actions from the Bank of Japan, Yen crosses are still very much in play which should keep volumes strong as compared to 2012 figures.
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Elsewhere, fellow Japanese firm Monex Group also posted its March figures. For the month, total volume fell to around $27 billion from just above $35 billion in February. Trading in its non-Japanese brands Tradestation and IBFX also fell to $33 billion from $40.5 billion the previous month.