FFAJ’s OTC FX Volumes Lose Ground in December, USD/JPY Trading Falls

USD/JPY trading fell by double digits on a MoM basis as volatility subsided in December.

The Financial Futures Association of Japan (FFAJ) reported its over-the-counter (OTC) retail FX margin trading figures for December 2016, ultimately seeing its recent run up in trading volumes move lower. Furthermore, USD/JPY trading was also weaker in December, per an FFAJ filing.

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In terms of its OTC currency trading volumes, the FFAJ yielded $4.0 trillion (¥452.4 trillion) in December 2016, down -14.7% MoM from $4.7 trillion (¥530.5 trillion) in November 2016, which represented one of its yearly peaks. December was devoid of any major market drivers, also suffering from seasonal declines in volatility, a sizable departure from the month prior.

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Moreover, looking at specific currency pairs of note at the FFAJ, December 2016 also saw notable declines in this area, led by the USD/JPY. The group reported a volume of $3.8 trillion (¥430.0 trillion), retreating -15.3% MoM by a margin of $4.5 trillion (¥507.8 trillion).

The declines in trading volumes on a MoM basis also reflect a universal fall seen in other institutional and retail trading venues in December 2016. Earlier today the FFAJ also posted its binary options trading figures, which also noted a similar decline.

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