Retail forex drives up Tokyo volumes
An annual survey by the Tokyo Foreign Exchange Market Committee (TFEMC) released July 22 found average daily FX turnover was up 25.8% to $302.5 billion a day in April this year, compared with the same period last year. Spot transactions accounted for 34.8% of FX deals, driven by customer trading, where spot turnover surged by 116%.
Tetsuya Inoue, secretary of the TFEMC and deputy director-general of the financial market department at the Bank of Japan, said short-term speculative trading by
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