LONDON, Sept 11 (Reuters) - Average daily volumes in the foreign exchange market fell 5.8 percent in August from July while transaction values also fell, data from FX settlement system CLS showed.
The total volume of instructions submitted to CLS, combining settlement and aggregation services, stood at 1,093,565, down from 1,160,857 in July. However, it was up 12 percent compared with 973,896 in August 2012.
The average daily value of transactions in the foreign exchange market fell 4.5 percent to $4.49 trillion from $4.7 trillion in July. It was $4.4 trillion in August 2012.
The data mirrors falls in foreign exchange trading volumes reported on Thomson Reuters dealing platform and on the EBS platform owned by ICAP.
Currency trading is typically subdued during August because many traders are on holiday.