Global FX Volumes at Monex Group Have Shed Another 8% In July

Volumes at Monex Group have declined for a sixth consecutive month, while the numbers at the Japanese OTC FX division

monexlogoTokyo based Monex Group Inc. has reported its July global FX volumes in its monthly disclosure statement. Currency trading figures are lower by 8% when compared to the previous month of June, coming out at $29.0 billion and marking a sixth consecutive month of declines. The numbers are hardly a surprise considering benign trading during the month of July as the Japanese yen trading has stagnated further.

The trading range in the most active pair on the local market – the USD/JPY, has been about 180 pips during the month. This has led to an even steeper decline in the volume figures of Monex Inc. – their OTC FX business was down by 18% to ¥53,8 billion ($524.6 million) per day. As the summer months progress, the likelihood of a material pick up before the month of September is slim. Rising geopolitical pressures are so far spreading mainly to the stock market leaving FX in a tough spot.

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