Global Economic Concern sees Currency Volumes Drop

Foreign-exchange volumes fell in the U.S., the U.K. and Singapore in October from six months earlier amid a slide in trading of the dollar against the yen and as concern a partial shutdown of the U.S. government would hamper the global economy pushed volatility to the lowest since 2012.

Average daily currency-market turnover in the U.S. was $816 billion in October, a 19 percent slide from April, the Foreign Exchange Committee reported in a twice-yearly survey. Volume in the U.K. declined to $2.23 trillion in October, a 12 percent decline from April, the Bank of England’s Foreign Exchange Joint Standing Committee said. Singapore currency trading fell 14.7 percent to $282 billion, the Singapore Foreign Exchange Market Committee reported.

The JPMorgan Chase & Co. Group of Seven Volatility Index fell to 7.51 percent on Oct. 24, the lowest since Dec. 20, 2012.

Bloomberg

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