Japan, Australia Currency Trading Volume Falls, Surveys Show
The average daily trading volume of foreign currencies in Tokyo fell 7.6 percent to $262.8 billion in April from a year earlier, Japan’s Foreign Exchange Market Committee said, citing a survey of financial institutions.
The decrease in transactions reflects lower volatility in major currency pairs, the committee said in a statement. Spot trading dropped 13 percent and currency options declined 36 percent, while forward trading increased 2.8 percent, according to the survey.
Average daily turnover in Australia slid 20 percent to $175.7 billion, compared with the same month a year earlier, the Australian Foreign Exchange Committee said today, citing a similar poll.
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