FFAJ’s Japanese FX OTC Trading Volumes Tick Lower in March

March proved to be another lackluster month for trading volumes at FFAJ, now marking two months of declines.

The Financial Futures Association of Japan (FFAJ) reported its over-the-counter (OTC) retail FX margin trading figures for March 2017, ultimately incurring a consecutive month decline across multiple segments, per an FFAJ filing.

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In terms of its OTC currency trading volumes, the FFAJ yielded $3.4 trillion (¥368.6 trillion) in March 2017, down -3.1 percent month-over-month from $3.5 trillion (¥380.5 trillion) in February 2017, justifying two straight months of declines. This reading came amidst an uptick of global volatility, stimulated by monetary policy action in the United States.

Moreover, looking at specific currency pairs of note at the FFAJ, March 2017 also saw notable declines in a number of areas, led by the USD/JPY. The group reported a volume of $2.7 trillion (¥297.7 trillion), retreating -6.4 percent month-over-month from February 2017.

By extension, FFAJ’s currency trading volumes did notch gains across several pairs, including EUR/JPY (20.6 percent higher month-over-month), AUD/JPY (26.9 percent higher month-over-month), and GBP/USD (39.3 percent higher month-over-month) when compared to February 2017.

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