– Overall volumes increased on the day, with JPY continuing to dominate the G10 rankings.
– EUR/USD attracted the highest daily volumes since last August as investors backed the downside breakout.
– The down-move in EUR/JPY was on lower volumes. This signals that investors are reluctant to participate in JPY buying.
– Trading volumes for EUR/SEK were more than twice the size of the previous trading session. Investors appear to be happy selling at lower levels.
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Barclays Capital