September 19, 2018 / 9:02 AM / 3 months ago

Foreign exchange turnover rises in August - CLS

LONDON, Sept 19 (Reuters) - Daily currency trading volumes rose 1.5 percent in August versus the same month last year, CLS data showed on Wednesday, although August’s volumes were lower than the previous month of July.

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 $1.605 trillion in August, up from $1.581 trillion in the same month in 2017.

After double-digit growth - spurred by an uptick in currency market volatility - to record volumes in the first half of 2018, trading platforms have reported a more subdued expansion in activity in recent months.

Euro/dollar, the world’s most traded currency pair, has remained within a tight range for the past few weeks as concerns over Italy has receded while investor appetite for chasing risk has been dampened by trade war concerns.

August’s volumes were lower than July’s $1.638 trillion, CLS said. (Reporting by Tommy Reggiori Wilkes; Editing by Saikat Chatterjee)

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