August 8, 2018 / 8:38 AM / a year ago

FX volumes edge higher in July vs last year - CLS

LONDON, Aug 8 (Reuters) - Currency trading volumes rose 2.6 percent in July on last year, CLS data showed on Wednesday, although July’s volumes were 13.7 percent lower than the previous month of June.

CLS, a major settler of trades in the foreign exchange market, said in a statement that the average daily traded volume of currencies submitted to it reached $1.638 trillion in July, up from $1.596 trillion in the same month in 2017.

July’s volumes, however, were lower than June’s $1.899 trillion because volatility on forex markets fell.

After double-digit growth - spurred by an uptick in volatility and a big rally in the dollar - to record volumes in the first half of 2018, currency trading growth has slowed in recent months.

Thomson Reuters and NEX Group, which both run large electronic trading platforms, have reported smaller growth for July. (Reporting by Tommy Wilkes; Editing by Tom Finn)

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