February 4, 2020 / 3:10 PM / 25 days ago

N.America average daily FX volume falls in October 2019 -NY Fed survey

NEW YORK, Feb 4 (Reuters) - Daily currency volumes in North America dropped in October 2019 compared from a year earlier, according to a semi-annual survey by the New York Federal Reserve’s Foreign Exchange Committee released on Tuesday.

Daily FX volume hit $889.3 bln billion in October last year, down 10.7% from the previous year. FX spot transactions in October 2019 fell 21% from a year ago to $358.3 billion.

The FX market has been undermined by low volatility that has pushed volume lower and squeezed profit margins for the industry’s players. (Reporting by Gertrude Chavez-Dreyfuss Editing by Chizu Nomiyama)

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