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Average daily FX trading volumes hit $1.67 trln in August - CLS
Published at 21/09/2021 at 09:53

LONDON, Sept 21 (Reuters) - Average daily turnover in foreign exchange markets reached $1.67 trillion in August, up 1% on a year earlier, as a rise in swap business offset falls in spot activity, CLS said on Tuesday.

CLS, a major settler of trades in FX markets, said in a statement, turnover was down from July levels across the different FX products, and was more or less in line with volumes seen in August 2020.

Falling FX market volatility over the summer has discouraged financial traders from placing big bets, although that has been offset by an increase in activity by companies hedging their foreign exposures or borrowing in other currencies to fund expansion plans.

Many investors are waiting for clearer direction on the path of inflation and monetary policy before making new bets in currency markets.

(Reporting by Tommy Reggiori Wilkes; Editing by)

((thomas.wilkes@tr.com; +44 (0) 7769 955711;))