As usual, the Tokyo Financial Exchange (TFX) is the first venue to announce its monthly volume figures as we head into a new month. During July, the TFX reported that exchange traded Click 365 FX contract volumes totaled 4,084,849, with an average daily volume of 177,636. The figures were 30.5% below June’s numbers, and represented the lowest activity at the exchange since October 2012. The decline won’t necessarily point to an overall decrease in Japan related trading during July, as we witnessed in May a contrast between OTC and exchange traded FX volumes in the country.
In individual contracts, trading in the USDJPY easily held onto the top spot among most actively traded forex pairs with a total of 1,753,790 contracts traded, representing 42.9% of overall volumes. Following the USDJPY, were the AUDJPY and EURJPY respectively. After being the most traded cross earlier this year, volumes of the EURJPY have declined rapidly, with July’s trading being 21.3% of the activity reached in February.
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