Forex volumes on the rise again in Q2?

The average number of daily foreign exchange payment instructions rose in August from the previous month, data from FX settlement

The average number of daily foreign exchange payment instructions rose in August from the previous month, data from FX settlement system CLS Bank showed on Friday. The average volume of payment instructions was 589,446, with an average value of $3.33 trillion in August. Volumes were up 3 percent from 572,214 in July, although the average value was down 0.3 percent from $3.34 trillion the previous month, it said.

Average foreign exchange volumes peaked at a record 727,934 last October, but hedge funds and some other liquidity providers in the market had reined in activity due to ongoing financial turmoil.

Join the Leading Industry Event!

Suggested articles

How to Generate Leads Outside of the Box?Go to article >>

This is an encouraging piece of information as we are overflown with news claiming that there is a major drop in institutional Forex volume. Biggest drop was recorded in the US, UK and Australia with Japan being not far behind.

Let’s hope that as the economic crisis eases the volumes will start getting back on track and will even pick up.

Got a news tip? Let Us Know